Friday, April 22, 2011

Budget Deficit: Gang of Six

by Bill McBride on 4/22/2011 05:57:00 PM

From the LA Times: Gang of Six gives old-time politics a try

The six senators — three Democrats, three Republicans — working behind closed doors to deal with the nation's debt crisis have put aside the hyper-partisanship of today's Washington and are engaging in the give-and-take necessary to craft an agreement.
...
For now, the group's deliberations are largely secret. But its proposals are expected to include changes in the government's most costly programs — defense, the healthcare safety net and Social Security — as well as the closure of tax loopholes.
I do not want to prejudge the result of these meetings, however I've outlined my suggestions on how to approach the deficit issue.

I'd be happy if the "Gang of Six" just offered a proposal on how to close the structural general fund deficit ex-healthcare. That would be an important first step ... and I think should be THE first step.

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