“We’ve gone from a Gang of Six to a mob of 50,” exulted Sen. Joe Manchin (D-W. Va.), as he emerged from the meeting. The proposal, Manchin said, “shows great promise.”
“I will support it. It is a fair compromise,” added Sen. Kay Bailey Hutchison (R-Tex.). “This is a way forward where we can do the work that we have come here to do.”
Details of the plan were sketchy and it was not immediately clear how the proposal might be combined with existing debt-limit strategies. As described by its creators, the framework calls for $500 billion in immediate spending cuts as a downpayment on a broader debt-reduction effort that would be carried out largely by existing legislative committees.
Wikipedia has already updated it article on the GANG OF SIX to reflect this afternoon’s developments....a pipeline from the White House.