In Brief

After months of debate on raising the debt limit, Congress passed a last minute bill just before the limit was reached in August. The debate and lack of substantive action led Standard & Poor's to downgrade the United State's credit rating, and the world to wonder if the U.S. government can truly tackle its growing debt. The bill also created the Joint Select Committee on Deficit Reduction, tasked with shrinking the deficit by $1.5 trillion. Brookings experts offered their perspectives and recommendations on the discussion as it unfolded.