President Obama described a proposal developed by a group of six Democratic and Republican senators as a significant step toward a bipartisan consensus while addressing reporters from the briefing room of the White House on Tuesday.
“We now have a bipartisan group of senators who agree with that balanced approach and we’ve got the American people who agree with that balanced approach,” he said.
“My hope is that [lawmakers] tomorrow are prepared to start talking turkey and actually getting down to the hard business of crafting a plan that can move this forward in time for the August 2nd deadline.”
The “Gang of Six” plan includes $3.7 trillion in spending cuts over the next decade and an immediate $500 billion deficit reduction. An executive summary of the proposal reveals that it adheres to the approach of shared sacrifice with the inclusion of entitlement and tax reform.
“It’s very important in these next couple days to understand we don’t have any more time to engage in symbolic gestures, we don’t have any more time to posture,” Obama added.
The House is scheduled to vote on the GOP’s “Cut, Cap, and Balance” measure on Tuesday, though TheHill.com reports that the plan is considered dead on arrival once it reaches the Senate.
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