How the U.S. Debt Deal Will Work

After months of public wrangling over the debt ceiling and ways to reduce deficits, the Democrats and the Republicans finally reached a deal on July 31. The public spat did much to damage the global image of the U.S. and eventually led to a downgrade in its much-vaunted AAA credit rating.



The New York Times gives an interesting lowdown on how the debt deal will work. You can find more here.