So, What's in The Deal?
Late last night it was announced that the president and congressional leadership reached a deal that should ensure that our country does not default on its debts. Now Congress is in the midst of making their decision on the plan. Already the media is trying to hash out who won and who lost, who is up and who is down, and what kind of effect the events of July 2011 will have on how the country votes in November 2012.
The details aren't yet clear, but we do know some broad strokes. We know the deal would extend the debt ceiling, and it would be raised by more than $2 trillion, which will ensure the issue won't come up again until 2013. The plan includes $1 trillion in agreed upon cuts over the next 10 years and sets up a committee to find $1.2 trillion more. The legislation also includes an "enforcement mechanism" that will make cuts automatically if a deal isn't reached. With all of the different stories and numbers flying around, I'll stop there.
We'll be looking over the plan with a singular focus. How do the poor and vulnerable fare? We are working with our policy partners to evaluate the immediate decisions, prospects for what would happen under this new committee's decisions in the future, and what would happen under the automatic cuts should they not reach an agreement.
Until then, what are you all reading about how "the least of these" will do under this deal?