Gang of Six Deficit Plan

Six stalwart U.S. senators delivered yesterday the outlines of an intelligent and ambitious deficit- reduction proposal. It’s, as President Barack Obama succinctly said, “good news” — at a time when some is required.

The bipartisan “Gang of Six” plan will take the wise policy framework of the Bowles-Simpson fiscal-reform commission and turns it right into a workable package with the Senate to contemplate.

Despite the fact that the plan’s facts aren’t all apparent, the senators say it could decrease deficits by $500 billion instantly and by $3.7 trillion over ten years. It could overhaul entitlements, in part by switching into a so-called chained consumer price index to determine advantages.

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