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US Debt Deal 'Doesn't Reduce Debt': Analyst

Wednesday, 3 Aug 2011 | 1:00 AM ET

"The debt deal has basically punted the whole problem into the future... and it doesn't really reduce the debt. What is does is it slows the trajectory of growth," Philippa Malmgren, president and founder of Principalis Asset Management told CNBC. "From an investor point of view, you don't see the U.S. taking anything like the kind of austerity actions that we've seen in the U.K.," she added.