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Year. and then there would be a mechanism for more cuts that if approved the debt ceiling would be raised past the 2012 21 election. will the president sign that into law? me pr chris, let me tell you what we are trying to do. rs first and most important we need to lift this shred of default from the economy for the next 18 months. we have to take that threatctio. off the table through the election?t t try -- through the election. mak but we want to make sure we can come together 1k3* lock in s ...