President Obama and "Gang of Six" Take on Federal Deficit
Monday, April 11, 2011
President Obama is going to lay out a long-term plan to address the deficit later this week. Sanger says the president has no choice but to address the problem, now that the deficit has ballooned to more than $14 trillion. In about five weeks, Congress will have to vote on whether to raise the debt limit, and Sanger says Mr. Obama is feeling the pressure. Meanwhile, a bipartisan group of senators known as the "Gang of Six" will offer up its own debt-reduction package this week.