Gang of Six, back from the brink?

[David Gill]

Source: Politico

The once moribund Senate “Gang of Six” regained new life Tuesday after Oklahoma Sen. Tom Coburn unexpectedly rejoined the group — and more senators are now coalescing around a new proposal that would cut the debt by as much as $3.7 trillion over the next decade.

Other top senators are also getting behind the plan, including Sen. Lamar Alexander (R-Tenn.), the No. 3 Senate Republican, who told a group of senators Tuesday he would back the Gang of Six’s proposal, sources say. The fast-moving developments mean that elements of the proposal could influence the stalled talks to raise the debt-limit before the Aug. 2 deadline.

According to a copy of the plan, obtained by POLITICO, the group would impose a two-step legislative process that would make $500 billion worth of cuts immediately followed by a second bill to create a “fast-track process” that would propose a comprehensive bill aimed at dramatically restructuring tax and spending programs. The plan calls for changes to Social Security to move on a separate track, and establishes an elaborate procedure for considering the measures on the floor.

Read more: http://www.politico.com/news/stories/0711/59345.html

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I thoughtthe Gang of Six was supposed to be a bipartisan group? Where are the Democratic ideas?

[midnight]

1. K&R

[CaliforniaPeggy]

2. Big surprise: They don't want ANY Democratic ideas.

:P

[whathehell]

6. Correct...The president just asked the repukes to appreciate that he was a "Democratic

President willing to 'modify' (nice term) entitlements", like Social Security and Medicare.

I'm five years away from collecting both.

If the Dems in the House and Senate don't stand up to this,

I think we're screwed.

I am DEEPLY disillusioned and totally disgusted with

our so-called "democratic" president.:grr:

[AndyTiedye]

9. We are Screwed Anyway

If he stands up to them, we default, and bye-bye Social Security, Medicare, and everything else the government does.

Social Security has it's own "trust fund", but that is invested in, guess what? US Treasuries!

Obama and the Democrats are in a no-win situation.

[AzDar]

3. Bend over... I have a feeling we are about to get Gang-Banged.

:(

[vi5]

4. Sadly the "democratic ideas"

...are essentially the Republican ones nowadays.

[PoliticAverse]

5. The 'gang of 6' proposal includes changing Social Security's COLA formula. n/t

[whathehell]

7. The "gang of 6" is really the "gang of dicks"....including my senator Dick Durbin...Fuck 'em.

[bemildred]

8. More bullshit for the Rubes. nt

[mvd]

10. Geez, 25% revenue increases + top tax rate of 29% + Social Security..

COLA change? That is a deal that puts the burden primarily on the middle class. I would do what Clinton said and use the constitutional option. Then let the Bux tax cuts expire and draw up a better plan after that revenue.

[Twostones]

11. This plan will destroy

Medicare and Social Security. It is a trojan horse in disguise.

[SkyDaddy7]

12. One good thing about the "Gang of Six"...

This will put Republican Senators against Republican House Members!! Aside from that I will have to see exactly what it is they come up with before I comment.

[PassingFair]

13. Shitty article....leaves out Saxby Chambliss....

snip>Senators in the Gang of Six - Kent Conrad (D-N.D.), Dick Durbin (D-Ill.), Mark Warner (D-Va.), Mike Crapo (R-Idaho) and Coburn - discussed the proposal with 43 senators Tuesday morning on the first floor of the Senate, after more than six months of struggling to broker a deal.
>unsnip

Idiots. Didn't even bother to COUNT...reports on "Gang of Five"....





From ABC:
http://blogs.abcnews.com/thenote/2011/07/the-gang-of-six-is-back-and-presents-a-bipartisan-deficit-reduction-plan.html

>The presentation was significant for its attendance alone: 50 senators -- both Republican and Democrats attended and were briefed by six senators -- Republicans Tom Coburn of Oklahoma, Saxby Chambliss of Georgia and Mike Crapo of Idaho, and Democrats Dick Durbin of Illinois, North Dakota’s Kent Conrad and Virginia’s Mark Warner.<