Excerpt from transcript
KWAME HOLMAN (Newshour): Mr. Obama praised the work of a bipartisan group of senators known as the "Gang of Six." The group released the framework of a deal today that would cut roughly $4 trillion from the deficit over the next decade.
The savings would come from cuts to discretionary spending, including defense programs, reforms to federal health care programs such as Medicare and Medicaid. And it also would include $1.2 trillion in new revenues.
At the Capitol this afternoon, Senate Republican Leader Mitch McConnell said he would withhold judgment on the plan.
SEN. MITCH MCCONNELL, R-Ky. minority leader: I don't have an opinion yet. I commend the senators who were involved in it for all the work. They have spent a lot of time on this.
KWAME HOLMAN: The Senate's majority leader, Democrat Harry Reid, also refrained from immediately endorsing the proposal.
SEN. HARRY REID, D-Nev. majority leader: These are things I'm interested in, but for me to say I love this bill that other people worked on for months and months, I can't do that.
KWAME HOLMAN: But the framework did get a nod from a member of the Republican leadership, Tennessee's Lamar Alexander.
SEN. LAMAR ALEXANDER, R-Tenn.: They worked for six months. They have had disagreements. They have been like old married couples. You know, they have quit, and fought and come back. They have -- they have studied complex issues. They have come to a bipartisan agreement, and I support it.
KWAME HOLMAN: And the president said the group's approach was on the same playing field with his vision for deficit reduction.
Should I have to say? The our-way-or-no-way House Republicans will not go for this JUST because of the "new revenues" part of the proposal.
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