The deal is three parts.  Part one would to develop a 12 member committee to find savings.  Part two fast track legislation of saving findings by a committee.  Part three spending cut of two trillion and than another two trillion.

 

Full article:

http://www.washingtonpost.com/blogs/ezra-klein/post/the-debt-deal-thats-taking-shape-and-its-drawbacks/2011/07/11/gIQAZ9vuEI_blog.html?wprss=ezra-klein

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