CBO sends Boehner back to drawing board
July 26th, 2011
08:11 PM ET
3 years ago

CBO sends Boehner back to drawing board

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NEW YORK (CNNMoney) - With the clock ticking down, House Speaker John Boehner will rewrite his debt ceiling legislation to ensure that it meets his oft-stated pledge to cut spending more than Congress increases the federal borrowing limit.

That was the word from Boehner's office after the Congressional Budget Office on Tuesday evening estimated that the Budget Control Act of 2011 would reduce deficits by only $851 billion over 10 years.

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Filed under: Congressional Budget Office • Debt • Deficit • John Boehner