Senate Gang Of Six May Have The Best Deal We Can Expect
Given that both the Senate and the White House are in the hands of Democrats, the plan developed by the Senate’s “Gang of Six” may just be the best we can get passed:
Sen. Tom Coburn (R-Okla.), who had pulled out of the Gang of Six in May, also rejoined the group and praised the plan as something that could win the 60 votes needed to pass the Senate.
“The plan has moved significantly, and it’s where we need to be — and it’s a start,” Coburn said. “This doesn’t solve our problems, but it creates the way forward where we can solve our problems.”
Sen. Mark Udall (D-Colo.), in saying he would support the Gang’s plan, added: “There’s a lot of support for turning the gang into a mob.
“Count me in,” he said. “I’ve long held this is what we need to do. The credit agencies are saying it’s not enough to take care of the debt limit. We have to take care of the long-term fiscal scenario.”
At the top of the White House press briefing, Obama described the plan as “good news,” adding that it was “broadly consistent” with the approach he had endorsed for reducing the deficit.
Another key endorsement came from Sen. Lamar Alexander (Tenn.), the third-ranking Republican in the Senate.
“This is a serious, bipartisan proposal that will help stop Washington from spending money that we don’t have, and I support it,” Alexander said.
Coburn said the plan would reduce the deficit by $3.7 trillion over the next 10 years and increase tax revenues by $1 trillion by closing a variety of special tax breaks and havens.
Do I think the plan is perfect? No.
Do I think there are things that could be changed in the plan? Absolutely.
However, do I think that a more conservative plan are going to get through the Democrat-controlled Senate and White House? Not a chance in you-know-where.
So, it’s about the best we can reasonably expect.