Wednesday, July 20, 2011

Obama backs emerging bipartisan debt plan (Reuters)

WASHINGTON (Reuters) ? President Barack Obama threw his support on Tuesday behind efforts by a bipartisan group of senators to negotiate a new deficit-reduction plan aimed at averting a looming debt default.

Obama said a proposal by the "Gang of Six" group of senators is broadly consistent with his approach on reducing debt and deficits and he urged Senate Majority Leader Harry Reid, a Democrat, and Senate Republican leader Mitch McConnell to start "talking turkey" about it.

(Reporting by Matt Spetalnick and Steve Holland; Editing by Sandra Maler)

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/nm/20110719/pl_nm/us_usa_debt_obama

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