money woes

Obama’s Debt Plan: Those Other Dudes’ Debt Plan

Tomorrow afternoon, President Obama will enter the debt-reduction debate when he gives a speech at George Washington University, offering up his own plan to counter that of Wisconsin congressman Paul Ryan. And by “own plan,” we mean he’s reportedly going to get behind the Senate’s bi-partisan Gang of 6 — three Democrats and three Republicans who have been working for months to craft legislation based around the recommendations by the National Commission on Fiscal Responsibility and Reform, also known as the Simpson-Bowles Commission. As the Washington Post reports:

Backing the Gang of 6 will give Obama plenty of bi-partisan cover, something he always would prefer but which is especially vital on the prickly issues of entitlement and tax reform. But doing so would also mean that, for now, Obama still doesn’t have a debt plan to speak of, since the Gang of 6 hasn’t even finished its work yet:

Meanwhile, the Times warns that Obama’s very support could taint the Gang’s proposals, turning them, in the eyes of Republicans, into Obama’s latest socialist assault on freedom:

Apparently, a bi-partisan plan automatically gets cooties once Obama touches it. Congress really is a kindergarten for old men.

Senators Surprised by Obama’s Entry Into Fiscal Debate [NYT]
Obama turns to his bipartisan deficit commission’s blueprint for reducing debt [WP]

Obama’s Debt Plan: Those Other Dudes’ Debt Plan