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August 2, 2011
A specialist watches Sen. Harry Reid as he works on the floor of the New York Stock Exchange Monday, Aug. 1, 2011.
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Small spending cuts to have little economic impact
The deal reached by Congress to raise the debt ceiling and cut more than $2 trillion in public spending will probably have only a minor impact on the economy for the next two years. Almost all the cuts would be made in 2014 or beyond.
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