Debt showdown and the 'Gang of Six'
»14 items «
A bipartisan group of senators unveiled an ambitious deficit-reduction plan on July 19 that calls for limiting Social Security increases and reducing mortgage and other cherished tax deductions, a last-minute development that quickly won praise from President Obama and could provide a path to break a months-long budget impasse. With House Democrats and Republicans hardening their positions over whether and how to raise the nation's debt limit before an Aug. 2 deadline, the group of senators dubbed the "Gang of Six" outlined the framework of a deal they said would cut the deficit's growth by $3.7 trillion over 10 years. About $1 trillion of that would be raised by overhauling the tax code to lower individual and corporate rates while slicing myriad loopholes, shelters, and deductions. The proposal attracted support from rank-and-file senators in both parties, if not yet their leaders. Here are some key players and comments, reactions:
»14 items «
What You May Have Missed
Most Popular Across Site
- Concealed permit holder stopped armed robbery...
- LDS dad among finalists for Doritos Super...
- Doug Robinson: 'In Football We Trust'...
- Photos: Hollywood comes to Utah with the...
- Tyler Haws vows BYU will turn it around as...
- New mission presidents
- Book review: Young widow's memoir presents a...
- At BYU, Catholic archbishop seeks friends,...
- Mitt sounds like a candidate at Salt... 87
- California bars judges from Boy Scouts... 83
- Kerry: Violent extremism is not Islamic 28
- House Republicans run into divisions... 21
- Measles outbreak casts spotlight on... 20
- Analysis: Obama seizes on recovery,... 17
- Idaho has 22 breeding wolf pairs, an... 12
- Religious response to postponed... 11