Budget 2011: Cutting the Deficit Without Really Cutting?

Will the bipartisan deal that shaved $38.5 billion from the federal budget for 2011 immediately affect the soaring deficit so many Americans say they're worried about? The answer is not really, according to the nonpartisan Congressional Budget Office, a group of accountants and analysts who study the plans. The agency says the much-touted deal, approved Thursday, will only save $352 million through the end of the fiscal year -- a tiny fraction of the $1.4 trillion the U.S. has spent beyond...Full Story
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