On his top rated radio program, Rush Limbaugh announced the latest debt ceiling deal includes the following:
$1.2 trillion in cuts.
Debt ceiling raised $1 trillion.
No new revenues.
No defense budget cuts.
Congress appoints 12 member panel which would determine what to cut and when.
Congress would then vote on these recommendations.
This deal would expire April 2012
Limbaugh said he received a call from Speaker of the House John Boehner, who gave the deal’s framework.
Boehner stated President Barack Obama is not involved in these negotiations.