Tags: Economic- Crisis | senators | supercommittee | cuts

Senators Recommend Supercommittee Cut $4 Trillion

Friday, 16 Sep 2011 01:49 PM

By Greg McDonald

Sens. Mark Warner and Saxby Chambliss have formed a bipartisan group of senators in hopes of convincing the supercommittee to more than double the amount of budget cuts agreed to in the debt deal between President Barack Obama and Congress.
“We’re trying to say, if you go bold . . . we’ll be there to support you,” Warner, a Virginia Democrat, told the Richmond Times Dispatch.
Warner said the group of 36 senators — composed of 18 Republicans, 17 Democrats, and one Independent — would like to see the Joint Committee on Deficit Reduction identify at least $4 trillion in cuts over the next 10 years rather than stick with the $1.5 trillion target included in the debt deal.
The 12-member panel has until Thanksgiving to come up with its recommendations; Congress is scheduled to vote on them before Christmas.
Warner said the group formed with Chambliss, a Georgia Republican, wants the committee to consider both entitlement and tax reforms in its deliberations, as well as previous deficit-reduction proposals that ended up going nowhere.
One of them, the so-called “Gang of Six” plan led by Warner and Chambliss contained $3.7 trillion in cuts. 
Warner told the Times-Dispatch that the $1.5 trillion target is “not nearly bold enough to truly fix our nation’s balance sheet.”
Now we’ve got spending at 25 percent, revenues at 15 percent,” he added. “It doesn’t take a rocket scientist to figure out that if you’re going to get close to balanced, it needs to be somewhere in the middle.”

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Toller Cranston Dies: Olympic Figure Skating Medalist Was 65

Monday, 26 Jan 2015 05:44 AM

Toller Cranston, the former Olympic medalist who broke new ground in figure skating with his flair for the dramatic, has . . .

Kentucky Senator Brandon Smith Wants Out of DUI With Immunity Law

Friday, 23 Jan 2015 19:20 PM

Kentucky state Senator Brandon Smith, arrested earlier this month on a DUI charge, is making an effort to get the charge . . .

School Bus Pentagram? Woman Outraged Over Satanic Brake Light Symbol

Friday, 23 Jan 2015 18:53 PM

A Tennessee woman is outraged after spotting what she says is a satanic pentagram formed by the brake lights on a school . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved