Budget Control Act
On August 2, 2011, the Budget Control Act of 2011 (BCA) (P.L. 112-25) became public law. While the bill allowed
the debt ceiling to be increased up to $2.8 trillion, it also include provisions to reduce the deficit by $2.3 trillion
over 10 years. The BCA aims to reduce the deficit by $2.3 trillion over 10 years
Any way that government spending is reduced is a good thing, but most so-called spending cuts are just a lot of hog wash. They cut stuff in future years but then when those cuts are about to occur, Congress restores the spending level, so nothing ever gets cut.