Skepticism Greets Debt-Accord Plan for Bigger Deficit Cuts
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The U.S. debt-ceiling deal poised for final congressional approval today creates a special panel that could easily deadlock and contains an enforcement mechanism for future belt tightening that exempts big drivers of long-term deficits, causing skepticism among some budget experts about the plan’s effectiveness.
Based on past attempts to use budget-cutting mechanisms known as “triggers,” Congress could vote to override the automatic spending cuts in the bill intended to force a broader agreement to reduce the debt by the end of this year.