This is the first of three posts on the bill agreed to by the President and the bipartisan bicameral leaders of Congress (Speaker Boehner, and Leaders Reid, McConnell, and Pelosi). The bill is called the Budget Control Act of 2011.
The two other posts are:
The “understanding” post covers in some detail a few critical details for insiders and experts. The strategic analysis post tries examine how this deal came together and what might result from it this fall.
- bill text;
- Speaker Boehner’s slides used with the House Republican conference;
- the President’s statement from Sunday night; and
- the White House fact sheet describing the bill from their perspective.
Everything below assumes the new Budget Control Act of 2011 bill passes the House and Senate and is signed into law by the President.
I’m going to try to be neutral in this description and put my analysis in a separate post.