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Budget Control Act of 2011

Published August 1, 2011


Act (Proposed)

Budget Control Act of 2011

On July 31, 2011 a compromise was reached between Democratic and Republican leaders and the White House, resulting in this proposed act to raise the U.S.' debt ceiling and implement federal spending reductions. The House and Senate approved the measure on August 1 and 2, 2011; it was signed by President Obama on August 2.


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Debt and Deficits

What's the difference between debt and deficit? What does the "fiscal cliff," a combination of tax increases and spending cuts, mean for...