President Barack Obama signs the Budget Control Act of 2011 in the Oval Office, Aug. 2, 2011. (Official White House Photo by Pete Souza)
President Barack Obama signs the Budget Control Act of 2011 in the Oval Office, Aug. 2, 2011. (Official White House Photo by Pete Souza)
Statement by the White House Press Secretary
On Tuesday, August 02, 2011, the President signed into law:
S. 365, the “Budget Control Act of 2011,” which provides for authority to increase the public debt limit by between $2.1 trillion and $2.4 trillion; establishes discretionary spending limits for FYs 2012-2021; requires the House and Senate to each vote on passage of a balanced budget amendment to the Constitution; and establishes a congressional Joint Select Committee on Deficit Reduction.
