[lbo-talk] The deal...

[// ravi]

On Jul 31, 2011, at 9:12 PM, // ravi wrote:
> 
> * $1 trillion cuts over 10 years: from where?
> * looks like the debt limit raised to cover 2012
> * no tax raises (I guess?)
> * details on benefit cuts?
> 

Looks like it’s worse: $900 billion in cuts right now spread over next 10 years - *based on the House bill*. $900 billion debt ceiling raise to carry through to end of 2011 (not 2012). And a committee to come up with $1.5 trillion (or $1.2 trillion in one scenario) more in deficit reduction (which could turn out an empty gesture for the GOP/TeaParty if the economy recovers(ha!)) to cover treasury through to 2012.

I am not trying to “live blog” this thing, so rest assured, no more updates from me.

	—ravi