- According to the Congressional Budget Office, the deal will cut $2.1 trillion from the federal deficit over the next ten years.
- President Obama will have the ability to raise the debt ceiling by $2.1 trillion, which should be enough to cover the federal government until 2013.
- The savings would come from the following areas: discretionary spending, $741 billion (including defense spending), $156 billion from reduced interest on the federal deficit and $20 billion from education loan initiatives.
- The bill calls for the creation of a new Congressional committee that will examine ways to make reductions between $1.2 and $1.5 trillion. If they cannot identify ways to do so, or if Congress fails to act on the committee's recommendations, cuts will occur automatically.