Wednesday, July 20, 2011

The Short List - July 20, 2011

Really short Short List today.  Apologies.

  • The newly reformed Gang of Six has released a debt ceiling/deficit reducing plan that is gaining traction in the Senate and has garnered qualified support from Speaker Boehner and President Obama.  Representative Cantor, however,  remains intractable on revenues.  Details continue to emerge about the plan, but if fully implemented it would reduce the deficit by $3.7 trillion dollars over 10 years and would bring debt as a percentage of GDP down to 70% in the same time frame.  Ezra Klein breaks down the deal a bit more.  The Washington Post Editorial calls the proposal a "new hope" sans Luke Skywalker.  In the background of the Gang of Six proposal is a new Washington Post-ABC poll that shows there's plenty of blame to go around, but Republicans are considered more to blame.  Perhaps most notable, 79% of independents don't think Republicans are willing to make a deal.

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