Senate's 'Gang of Six' close to revealing budget deal.

  1. OLYHOOCH profile image60
    OLYHOOCHposted 7 years ago

    While President Obama and Republican lawmakers squabble over how to cut spending in the 2012 budget, a bipartisan group of six senators is preparing to unveil their own proposal to reduce the nation's massive deficit soon after Congress returns from its two-week spring recess.
    Senate Majority Whip Richard Durbin, D-Ill., a member of the so-called "Gang of Six," said Wednesday that the group is "very close" to announcing a deal. The plan would likely close the federal budget gap by both raising taxes and slashing spending on domestic programs and defense. Durbin confirmed Tuesday that entitlement spending is likely to be included in that formula, starting with Social Security, which he said will run out of money by 2037.

    "We've come to know one another and trust one another and understand one another and I think we are moving closer to an agreement," Durbin told ABC News, adding that the six lawmakers feel "a sense of urgency," to produce a plan very soon or face irrelevancy as Congress moves to act on a budget proposal for 2012.

    Obama and House Republican Budget Committee Chairman Paul Ryan, R-Wis., have already released opposing budget proposals, with Democrats calling for tax increases and Republicans proposing deeper spending cuts.

    "If and when we reach an agreement, it will be in the middle," Durbin said of the Gang of Six plan, "a bipartisan effort that I think has a chance to succeed."

    Bill Wilson, president of Americans for Limited Government, pointed out that the Gang of Six will have a hard time selling their proposal to House and Senate leadership and the president, who all appear to be ignoring the group because they oppose either the tax increases or the cuts to spending and Social Security.

    Obama on Tuesday sidestepped a question about whether he supported the Gang of Six while he was conducting a town hall meeting in Virginia. Indeed, Obama is forming an entirely new debt panel to come up with a proposal.

    In addition to Durbin, the Gang of Six includes Sens. Mark Warner, D-Va.; Kent Conrad, D-N.D.; Saxby Chambliss, R-Ga.; Tom Coburn, R-Okla.; and Mike Crapo, R-Idaho. Four of the senators served on Obama's debt commission, which last year proposed cutting $4 trillion from the budget and protecting Social Security by gradually raising the retirement age to 69.

    The debt commission couldn't garner enough votes to pass its plan, but the senators decided to propose their own legislation to shrink the nation's deficit, which is projected to run $1.65 trillion this year.

    Part of their proposal could incorporate the debt commission's plan to raise the retirement age.

    Warner, a former telecommunications executive who now serves on the Senate Budget Committee, told CBS News this week the proposal could raise taxes and cut spending.

    "We are going to make everybody mad with our approach," Warner said.

    Read more at the Washington Examiner: … z1K5bqMHMw


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)