7/20/2011

So who is really pushing the "Grand Bargain"?

Here is one possible answer: which proposal will actually cut the deficit the most? The Republican controlled House last night proposed cutting the coming $10.3 trillion deficits over the coming decade by $6 trillion. The very vague "Gang of Six" proposal would cut things by $3.75 trillion (Obama says that he likes this proposal). Of course, Obama's proposal has yet to be spelled out.

White House's Jack Lew says still time "to get something big done" on debt deal. "The President has made it clear that he was wants to get something substantial." Yet, of course, the White House is proposing something much smaller than the Republican controlled House has proposed.

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