American Morning

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August 3rd, 2011
11:19 AM ET

Debt bill enacted yesterday – what's next?

President Obama signed the emergency debt ceiling legislation into law yesterday just hours before a midnight deadline to get a deal done.

The measure provides an immediate $400 billion increase in the $14.3 trillion U.S. borrowing limit, with $500 billion more assured this fall. Later this year, a special bipartisan 'supercommittee' will come together to draft legislation to find up to $1.5 trillion more in deficit cuts.

Today on American Morning, Kiki McLean, Democratic strategist, and Margaret Hoover, author of "American Individualism: How a New Generation of Conservatives Can Save the Republican Party," join Christine Romans to discuss how the American public reacted to negotiations and where lawmakers will go from here.


Filed under: Budget • Debt • Debt ceiling • Deficit
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