Breaking down the debt deal

In this video blog, OK Policy Director David Blatt provides an overview of the deficit reduction agreement reached this summer by Congress and President Obama. The  deal calls for close to $1 trillion in cuts to discretionary programs over the next ten yeas and additional automatic, across-the-board spending cuts if Congress fails to enact a further $1.2 trillion in deficit-reduction measures by January 15, 2012.

For more detailed analysis of how the debt deal might impact the federal budget, click here for an in-depth summary by Richard Kogan from the Center on Budget and Policy Priorities.  Or, click here for a few succinct power point slides on the subject developed by OK Policy. An earlier blog post summarized some of the best analysis of the agreement.