The Budget Control Act of 2011: Effects on Spending Levels and the Budget Deficit

This report focuses on how the Budget Control Act of 2011 (BCA) will affect spending and the budget deficit through the "first round" effects, related to discretionary spending caps and student loan provisions, and the "second round" effects of additional deficit reduction, related to the work of the Joint Committee. The report also examines short and long run effects of deficit reduction on the economy