Deficit-cutting plan fails to advance to Capitol - WTVM.com-Columbus, GA News Weather & Sports

Deficit-cutting plan fails to advance to Capitol

WASHINGTON (AP) - An austere deficit-cutting plan by President Barack Obama's budget commission has failed to win the supermajority required to force a quick vote in Congress.

The plan won support from 11 of 18 commission members. Fourteen were needed for official approval. The plan would have cut $4 trillion from the budget over the coming decade through a combination of curbs to Social Security, tax increases and a slew of other spending cuts.

Commission cochairman Erskine Bowles declared victory, nevetheless. He said the panel's nonpartisan deliberations showed it's possible to have an "adult conversation" about cutting the
deficit.

Powered by Frankly