CBO: $917 billion in deficit reduction thanks to cuts

The nonpartisan Congressional Budget Office, the Capitol's official budget scorekeeper, weighed in with good news for supporters of the debt deal Monday: it does cut deficits by $917 billion over 10 years, with the possibility of at least $1.2 trillion more.

This story was originally published August 1, 2011 at 3:13 PM with the headline "CBO: $917 billion in deficit reduction thanks to cuts."