Gang of Six Not Ready For Prime Time?

Fox News ^ | July 25, 2011 | John R. Lott Jr.

[JohnRLott]

Video at link discusses: "Too many holes in the ‘Gang of Six’ proposal?"

http://video.foxnews.com/v/1078462529001/gang-of-six-not-ready-for-prime-time/

[PGR88]

The gang of SICK?

[BufordP]

I'd be interested in your analysis of the McConnell plan. Everyone on FR, including myself, are vehemently opposed to it. But Ann Coulter made some interesting points on "Follow the Money."

[raybbr]

Well, 33% of the 'gang' thinks that an increase in interest rates are a tax increase. They can no longer differentiate between the market and government...

SCHIEFFER: WELL, DO YOU ALL AGREE WITH THE STATEMENTS TODAY THAT YOU NEED TO GET, BASICALLY GET SOMETHING DONE BEFORE DARK AROUND HERE OR THE ASIAN MARKETS ARE GOING TO BE AFFECTED.

WARNER: YOU'VE GOT TO GET SOMETHING DONE, OR WHAT WE'LL HAVE IS INDIRECTLY A TAX INCREASE ON EVERY AMERICAN FAMILY WITH INCREASED INTEREST RATES.

CHAMBLISS: AND FRANKLY WE DON'T KNOW WHAT'S GOING TO HAPPEN FOR SURE, BUT ONE THING WILL BE GUARANTEED, AND THAT'S EXACTLY WHAT MARK JUST SAID. WE KNOW THAT EVERY HOUSEHOLD IN AMERICA IS GOING TO BE AFFECTED IN A NEGATIVE WAY, JUST BY VIRTUE OF THE FACT THAT CREDIT CARD INTEREST, INTEREST ON COMMERCIAL LOANS IS GOING TO INCREASE. AND THIS IS NOT THE TIME TO SEE AN INCREASE LIKE THAT WHETHER YOU CONSIDER IT AN INTEREST INCREASE OR A TAX INCREASE, WHICH IS RIGHT- INDIRECTLY, IT IS.