Debt ceiling: What the deal will do - Aug. 1, 2011A debt ceiling increase of between $2.1 trillion and $2.4 trillion: The framework will raise the debt ceiling immediately by $400 billion, then by another $500 billion after September.
After deep cuts are enacted by the end of the year, it will be increased by another $1.2 trillion to $1.5 trillion.
All told, the increases should cover the Treasury's borrowing needs until 2013
http://www.washingtonpost.com/politi...VnI_story.htmlThe agreement was sealed late Sunday after weeks of acrimonious debate. If approved by the Senate, it would raise the $14.3 trillion debt limit by at least $2.1 trillion, including the immediate $400 billion released upon Obama’s signature. An additional $500 billion would come in the fall, unless two-thirds of both chambers of Congress voted to prevent it. The final increase, which would occur early next year, would provide the Treasury with sufficient borrowing power to pay the bills into early 2013.