The Budget Control Act of 2011 (Pub.L. 112–25, S. 365, 125 Stat. 240, enacted August 2, 2011) is a federal statute in the United States that was signed into law by President Barack Obama on August 2, 2011. The Act brought conclusion to the United States debt-ceiling crisis of 2011, which had threatened to lead the United States into sovereign default on or around August 3, 2011. The law involves the introduction of several complex mechanisms, such as creation of the Congressional Joint Select Committee on Deficit Reduction (sometimes called the super committee),[1] options for a balanced budget amendment and automatic budget sequestration.
Posted on: Tue, 14 Oct 2014 03:00:51 +0000
Trending Topics
Recently Viewed Topics
© 2015