McCaskill says "Gang of Six" plan makes sense

Missouri Senator Claire McCaskill says the bipartisan “Gang of Six” plan to steer the government away from a first-ever default on its financial obligations makes sense because it helps the deficit and lowers corporate and personal tax rates.

The Democratic Senator attended the meeting on Capitol Hill Tuesday where some 50 senators from both parties were briefed on the plan. McCaskill says most of the senators are excited about the compromise that was presented.

"Now the question is: can we adopt some of those provisions that are in the Gang of Six plan quickly enough to deal with the debt crisis," McCaskill said. "Can we integrate that into, whatever we pass as it relates to the debt crisis, in a way that will reassure enough members that we are gonna get to our debt deficit."

The Gang of Six plan promises almost $4 trillion in deficit cuts, including an immediate 10-year, 500-billion dollar down payment that would come as Congress sets caps on the agency budgets it passes each year.

It also requires an additional $500 billion in cost curbs on federal health care programs, cuts to federal employee pensions, curbs in the growth of military heath care and retirement costs.

Senate Majority Leader Harry Reid has said the plan is too complicated to advance before the August 2nd deadline.

Julie Bierach, St. Louis Public Radio

Posted in: Claire McCaskill,debt ceiling,Julie Bierach,St. Louis Public Radio