–Key Members of Gang of Six Say They Are Still Pressing Ahead
–Sen. Chambliss: Will ‘Roll Out’ Plan When ‘We Get It Right’
–Sen. Warner: ‘We’re Going To Surprise A Lot of Folks’
–Sen. Crapo: ‘The Knives Are Out’ By Those Against Deal
–Sen. Durbin: Getting Broad ‘Encouragement’ To Get Budget Deal

By John Shaw

WASHINGTON (MNI) – A bipartisan group of U.S. senators Wednesday
said they are still working hard to craft a comprehensive budget
agreement based on the fiscal report of the Simpson-Bowles commission,
adding that achieving a comprehensive budget agreement will be difficult
but is still possible.

Speaking at a budget conference hosted by the Peterson Foundation,
four members of the so-called Gang of Six said they believe their budget
talks are the best chance for a bipartisan fiscal accord this year.

The Gang of Six is an informal working group comprised of three
Democratic senators — Kent Conrad, Dick Durbin, and Mark Warner — and
three Republican senators — Saxby Chambliss, Tom Coburn, and Mike
Crapo.

Conrad could not attend the conference because he is now
participating in a debate on the Senate floor. Coburn has taken a
“break” from the Gang of Six talks, but has said he could rejoin the
effort.

The Gang of Six is using the findings of the Simpson-Bowles
commission as its base document. That commission called for more than $4
trillion in deficit reduction over a decade.

Chambliss said the Simpson-Bowles report is a “very good
foundation” from which to build a bipartisan budget agreement.

“We’re going to roll this out whenever we get it right,” he said,
adding “there is no timetable we have.”

“I think we’re going to surprise a lot of folks,” Warner said,
adding that a bipartisan agreement is needed to avert “the possibility
of a debt crisis.”

Warner said a comprehensive deficit reduction plan will require a
“mix” of new revenues and spending cuts.

Crapo said the talks within the Gang of Six have been wide-ranging.
“Everything is on the table. Everything has to be on the table,” he
said.

Crapo said the group’s willingness to explore all ideas has
generated opposition to their work. “The knives are out,” he said.

Durbin said while the group is exploring controversial ideas,
lawmakers from both parties have encouraged them to keep working on a
plan.

“We’re receiving encouragement from both political parties not to
quit,” Durbin said.

Both Senate Majority Leader Harry Reid and Senate Minority Leader
Mitch McConnell have been cool toward the Gang of Six.

** Market News International Washington Bureau: (202) 371-2121 **

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