The Budget Control Act of 2011 is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011. The Act brought conclusion to the 20
Vice President Biden shook hands and congratulated President Obama immediately after a call between the president and Speaker Boehner in which they reached a deal for the Budget Control Act, July 31, 2011.
President Obama publicly announced the debt ceiling deal on the evening of July 31, 2011; Congress began voting on it the next day.
Congressional passage of the bill gave President Obama the chance to sign the Budget Control Act into law, which he did on August 2, 2011.
The 2012 United States federal budget was the budget to fund government operations for the fiscal year 2012, which lasted from October 1, 2011, through September 30, 2012. The original spending reques
Budget Control Act of 2011
…for the initial debt limit increase of $900 billion. This is the first installment ("tranche") of cuts. $21 billion of this will be applied in the FY2012 budget. Additionally, the agreement established the Joint Select Committee on Deficit Reduction, sometimes called the "super committee", to produce deficit…
In response to Republican victories in the 2010 Congressional elections, President Barack Obama's administration aimed to reduce annual deficits to more sustainable levels while increasing support in specific areas to foster long-term economic growth in its FY2012 budget proposal.
Representative Paul Ryan played a prominent role in drafting and promoting the House Republican proposal for FY2012, The Path to Prosperity. The proposal, often called "the Ryan Plan", has been often referenced by candidates during the 2012 presidential election.
Negotiations throughout July 2011 eventually reached a deal to pass the Budget Control Act, which resolved the United States debt-ceiling crisis in return for significant budget cuts over the following ten years. Pictured is a July 13 negotiation session involving President Barack Obama and Congressional leaders Eric Cantor, Nancy Pelosi, John Boehner, Harry Reid, and Mitch McConnell.
The extent of damage caused by Hurricane Irene raised fears that the Federal Emergency Management Agency would run out of funds before the end of FY2011, setting off a debate that threatened to cause a government shutdown in October 2011.