Tuesday, August 2, 2011

The Associated Press: Questions and answers about the debt-deficit deal

Q. Will this solve the nation's deficit and debt problems?

A. Not by a long shot. The deal calls for the savings of more than $2 trillion over the next decade. But with the government currently racking up deficits — the difference between spending and revenues every year — of more than $1 trillion a year, the prospects for achieving a balanced budget in the near future are dim. 

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