Republican Sens. Tom Coburn and Mike Crapo, who sit on President Obama's deficit-reduction commission, will vote in favor of the commission's plan, according to sources.
They will join Sens. Kent Conrad (D) and Judd Gregg (R), who said yesterday they'd also support the package.
Fourteen of the commission's 18 members need to vote yes for the plan to move to Congress. The vote is expected to take place tomorrow.
*** UPDATE *** Here's Strickland's full dispatch:
Republican Sens. Tom Coburn and Mike Crapo today announced support for the plan proposed by the president's debt commission. Both senators are voting members of the panel.
"I'm scared to death at the potential that could unwind this country," said Coburn, one of the Senate's most fiscal conservative members.
Crapo said, "Although it's not everything we wanted and contains things that are painful to us and raise heartburn... it takes us down a path of addressing these issues."
Both members said the commissions' proposal are a starting point for reigning in the nation's growing debt. But they agreed that more needs to be done, saying the plan does not cut spending nearly enough.
"If we pass this bill tomorrow, it doesn't get us out of the woods," Coburn said. "There are many more difficult choices we'll have to make."
Still, the senators praised the plan for it's "dramatic" reforms of the tax code and its provisions that yield more tax reductions than increases.
Today's declarations of support follow those yesterday of Democrat Kent Conrad and Republican Judd Gregg. The commission will vote tomorrow and needs the approval of 14 of the 18 members to advance the plan to Congress.
The conventional wisdom among most senators and senior aides has previously been that the group will fail to garner the necessary votes, but today's news appears to breathe life into the plan.
"I'm hopeful that we do get to 14," said Crapo, "it's not out of the question yet."
Coburn said the country is at war on three fronts: Iraq, Afghanistan, "and the financial tsunami that's facing us." He added, "There's not a luxury for politics anymore."


Hats off to those that are willing to work in a bipartisan fashion and make the tough decisions necessary to fix America's fiscal mess.
How come all these "tough" decisions made by our outstanding elected officials never have a negative effect on their sorry asses or the sorry asses of the rich people slipping them money under the table? Do tell?
Doubling the current capital gains tax rate sounds like it might affect the well off. Raising the cap on social security earnings is a good step also.
14 of 18 is great...but I don't so much want to hear of what the Commission is proposing. What I want to know about is the Congress. Are they just voting on the package 'as is'? They will debate it yes, but are amendments etc handled within the Congress or do those suggestions go back through the Commission etc?
This part of the process seems the easiest...guess I'll get out my black suit to be ready to attend the funeral of ANY solution to deal with this Country's financial future...the Congress will simply put the plan on life support so that it can be a talking point and otherwise walk out of the room w/no intention of returning.
People say Social Security is a bad investment...bullcrap...paying the base salary, health care, pension and any other benefits Congressional members are paid has got to rank up there pretty high!
Allen - Omaha
People say Social Security is a bad investment...bullcrap...paying the base salary, health care, pension and any other benefits Congressional members are paid has got to rank up there pretty high!
Yes it sure is bullcrap Allen and a myth permeating FOX BOTS from the lying, right, wingnutosphere of FOX NOISE'S ECHO CHAMBER.
FOX NOISE'S ECHO CHAMBER Myth: Social Security adds to the deficit
Reality: It's not just wrong -- it's impossible! By law, Social Security funds are separate from the budget, and it must pay its own way. That means that Social Security can't add one penny to the deficit.
That's right, guys, sell out the middle class. You, who don't have to worry about your retirement because the American taxpayer will cover you, go ahead and act like the elitists you clearly are. This is disgusting.
President Obama's Debt Commission should be applauded for the fine work that they have done. They exceeded everyones expectations and identified the true areas that need reform to get the country on the path to fiscal resonsibility.
It's time now that Obama led the country, and he can do so by endorsing the entire Commissions plan.
JoAnnaSmith1
President Obama's Debt Commission should be applauded for the fine work that they have done. They exceeded everyones expectations and identified the true areas that need reform to get the country on the path to fiscal resonsibility.
Lady Jo, one thing for certain no one can applaud you for not making a spread sheet or a Texas instrument calculator.
Have a great day using those tools.
Typical venom from beverly
I guess if we took a spreadsheet or a calculator to the current US federal budget, it would look just fine to the Liberals.
On a lighter note:
How does someone named Mike Crapo get elected LMAO! His political team is the one you want running YOUR campaign!
Steven, you must have read my mind, thinking the same thing.
I would have changed that surname a long time ago (smile)
President Obama's Debt Commission's, it's a hell of a good plan if you are rich, practically painless as a matter of a fact. For the middle and working class it assures you will be denied the dignified though minimal existence you worked and paid for all your life, but hey whatever it takes to keep the rich happy, God Bless America.
I agree with Allen from Omaha. Why are the Taxpyers still paying huge Benifits For our Congressional Members when they get all the Gravy. We have to pay for our Benifits when we retire and even before we retired. The whole thing stinks . Its time we get some help. They sit there blocking every thing that might help the Middle Class. Its. "Profit in Their Pockets." ( Not all members .) Let them pay their own way. This is beyond disgusting. 20 months and more of Blocking anything to help the Middle class. They had Food on their Tables , at Thanksgiving) that's all that matters. But the extension of Uneployment Benifits ( which workers pay into) was just the True feelings of some of our elected officials. GREED GREED GREED !!!!! If we want to save money and cut the Budjet start with the Gravy Train that our Elected officials are on. How much could we save per year???? Take a Poll and see how many would give up their benefits???? We don't even get to Vote on what is taken away from the Middle Class. Fed Up!!!!! Hold your breath waiting for any Bipartisanship coming soon. Can't make any deals with Devil. It will never Happen.
good start--obama lied about healthcare costs---that bill must be repealed--we need tort reform and real market competition----I dont want bans or extra taxes but the public must know that sugar is the real cause of our health problems--and soda is sugar in a can--we need to educate not legislate our way to better health and thereby reduce our costs
listen to Paul Ryan--this guy makes sense
Yeah, Paul Ryan. The guy who wants you to be able to take your money that would have gone into social security and invest it in the stock market. Not bad. Oh wait, he also wants me to gaurantee any losses you may suffer. Sorry JohnO, don't think so.
@Johnny O -
<sigh> most States (40+) already have tort reform in place - Do you want a Federal Law on Tort reform even though the States have already addressed this issue? Isn't this exactly what everyone wants? Less Federal government dictating things and more State control. So.. in this example, the States have already shown the leadership and enacted Tort Reform - and yes, it's different in each State.
So what is it that you want? A Federal Tort Reform bill? why?
Real market competition? You do know that the 'real' market is global these days right? Most large companies have offshored millions of U.S. jobs already. Most of the stuff "made in China" is made in a U.S. plant in China ( i.e. Mattel toys ). The iphones and Ipads that we love so much aren't made here either. ( Thanks Steve Jobs ! )
If you were talking about the ability to purchase healthcare accross State lines, you do know that the HC regulations vary from State to State? If you were to purchase a plan from say, Alaska, it may not meet the minimum requirements of your State for healthcare. You would have purchased something worthless...We in the U.S. are not properly set up for THAT kind of competition. Our legislative leaders tend not to let us know THAT part of the argument because it can't fit on a bumper sticker.
And our companies are shut out of other markets like Korea - we can buy Kia and Hyundia autos here in the U.s. but you can't buy a Ford there.
Don't listen to all the hype JohnnyO. There is more politics and rhetoric out there than actual facts.
Johnny O-2168479
good start--obama lied about healthcare costs---that bill must be repealed--we need tort reform and real market competition----I dont want bans or extra taxes but the public must know that sugar is the real cause of our health problems--and soda is sugar in a can--we need to educate not legislate our way to better health and thereby reduce our costs
Hey, Johnny O
News Flash:
Judge Rejects Health Care Challenge
A federal judge in Virginia threw out a lawsuit on Tuesday that had charged that Obama's healthcare law is illegal, a major victory for the landmark legislation that has faced several challenges. Liberty University, a conservative Christian college, had sued the federal government, claiming the law's individual insurance mandate was unconstitutional. U.S. District Judge Norman Moon disagreed, interpreting the law as legal under the Commerce Clause.
http://www.thedailybeast.com/cheat-sheet/item/judge-rejects-health-care-challenge/white-house-win
listen to Paul Ryan--this guy makes sense
Isn't he an ambulance chaser? I understand that's what Young Guns do.
Also, did Michele Bachmann graduate from Liberty University?
Oh Bev...can quiet them with knowledge, can't baffle them with bu!!sh!t, so cut them dow, call them names, etc. etc.
Your rant-filled, vile spue is becoming so tiresome. You need some new buzzwords - maybe Feisty can help you out with a few.
You and your cowardly leftist judges will soon be quieted....NO WORRIES!
Both Crappo and Coburn and their families live off the american taxpayers, reform them first. Cut out their health care, make them buy a private plan and pay for it, pay for their parking fees, cut out the 5% match of their 401k. Do away with the Doctors , parmacy and xray facility they have in the Senate. Make them live as they like to say, on a family budget
luckygthree Thank You Cut their benifits. They have Great Benenfits but we get the leftovers. Have a Great Day.
As someone pointed out on one of last night's talking shows, the debt commission plan starts with an assumption of equal sacrifice, but the problem is that after 10 years of the Bush tax cuts, and a recession, there are far too many in the middle class and below that are not starting out equal to their counterparts in the upper brackets. I don't hear too many earning above $250K who say that the recession impacted them in the slightest.
Wow! Anyone who is welcoming this commission's report, and is not super rich, is a schizophrenic! Do you know it calls for cutting corporate inccome taxes, while also calling for higher taxes for middle class? the elimination of middle class deductions many of us rely on, such as the mortgage interest deduction? that it calls for treating employer provided health insurance as income to middle class workers? This report, if fully adopted, will mean the rich get richer, and a lower quality of life for all us in the middle.
I think your facts are wrong here. The plan reduces the highest tax bracket, but taxes capital gains and dividends at the full rate and many deductions are eliminated. Corporate taxes are put about the same rate. It makes a lot of sense and should reduce the silly money shifting that goes on now. I don't think mortgame deductions are eliminated, just limited to primary residences under 500K.
There are no facts yet, just recommendations and speculation. But the recommendations made do include doing away with the home mortgage interest deductions for the middle class. Not taxing profits made outside the U.S? You must know how much money is being made overseas by American companies, its in the news a lot. And you don't call this shell game a tax break for corporations?
"Reigning" (ruling) in debt is what we are doing now. REINING (restraining and directing a beast) is what was wanted. Who the heck wants to PAY for written news when its writers make such elementary-school gaffes? Professional writers are also expected when words like 'blond' or 'premier' get an '-e.'
'expected' -> 'expected to know'
You got it Pat. And lets not forget, stop taxing overseas profits of U.S. based companies. I know that right now these are just recommendations, but if history has taught me anything, its that the working man and woman will be the ones to shoulder the largest part of the load.
Anybody that believes the working class will see a tax break out of this is definitely in la-la land. If the changes they are talking take effect, I have already calculated a minimum increase to myself of $6,136.83. based on last years return.
if i am not mistaken, some idiot decicided to put the assets into the defecit as an asset, which , of course, made things look betterer. i would think that it's nothing more than a sinkhole for government paper which is now a government (entitlement) problem.
Now Senators Coburn, Gregg and who knows who else are "concerned" about the debt--where was their concern when they created it? Where was their concern when they passed legislation without paying for any of it? Where was their concern when they borrowed money to fight not one but two wars? They've been out of power for 4 years and but only in the last 2 have they been concerned about the debt and deficit spending. Hypocrits.
Yeah, and I bet they are regretting making such an issue of it the past two years. Now they are the ones in the spotlight and are having to practice what they preached. You think they're up to it? Myself, I'm waiting for one of those classic Repuiblicans shift. You know the ones where they use this magical calculator to suddenly create all this revenue from thin air, make it look like they are paying the debt and then in 10 years its bites us again.
I'm a Democrat but I'm impressed with both Corburn and Crapo. They show they are willing to compromise to prevent our economy from going into a very deep and dar hole.
Wake up MrB, our economy is already sunk, we have around 50 trillion in "real" outstanding debt, it's over.
Shared Sacrifice ??
1. The flagship proposal of the commission's chairmen is to Stomp On Social Security, or Middle Class.
2. Diagnosis of Cancer, Prescription for Cold ??
The deficits have mushroomed not because of Social Security, Medicare and Medicaid but because of "two unpaid wars, tax breaks for the wealthy, a Medicare prescription drug bill written by the pharmaceutical industry, and the Wall Street bailout."
a. The total cost to the United States of the Iraq war at $3 trillion.
But it appears that the $3 trillion estimate (which accounted for both government expenses and the war's broader impact on the U.S. economy) was, if anything, too low. For example, the cost of diagnosing, treating and compensating disabled veterans has proved higher than expected.
b. The country got here because of the bursting of an $8 trillion housing bubble. This bubble was fueled by the reckless and possibly unlawful practices of the Wall Street banks, like Morgan Stanley, the bank on whose board Bowles sits.
Mr. Bowles is a director of Morgan Stanley, one of the bailed out Wall Street banks. He gets $335,000 a year for his work with Morgan Stanley. This may be one of the reasons that the co-chairs report did not mention a financial speculation tax as a possible source of revenue, even though financial sector taxes have been widely advocated by policy analysts around the world, including even the I.M.F.
3. It is clear that there are a number of fair, progressive ways to reduce deficits without harming the middle class and those who have already lost their jobs, homes, life savings and ability to send their kids to college.
A reeling housing market probably would slide further if, as recommended, Congress were to repeal the tax deduction for mortgage interest
Calls for upping the age of retirement to 68 and later 69, charging more for Medicare, limiting the mortgage deduction and reducing increases in Social Security related to inflation, all measures guaranteed to drive Middle Class into poverty and to further jeopardize the economic recovery.
The government can overcome its trillion-dollar-plus deficit by merely cutting "waste, fraud and abuse", say, can balance the budget by simply undoing the disastrous policies of the Bush administration. the job-cutting proposals
a. Why not stop the Afghanistan war at a price tag of 140 billion a year...why not reduce what U.S. spends for military 800billion a year…U.S. military budget is as big as the next 27 countries COMBINED ! Even overall US intelligence budget tops $80 billion annually.
Weapon Sell = Mexican Drug Trafficking = Destroy all, driving global economy in a destructive direction
And Weapon inventory is more likely to provoke constant wars.
Overall, the federal budget is expected to run a $1 trillion deficit this year. In effect, U.S. is borrowing money from China and using some of it to keep a measure of order in Afghanistan. This is allowing the Chinese to sign contracts and build infrastructure that will let them exploit Afghanistan’s vast mineral wealth—while U.S. pay the borrowed money back with interest.
b. End Bush-era tax breaks for the greedy.
c. Eliminate tax credits for big oil companies that have posted the highest profits in history, and the likes.
You guys should stop complaining because, one the health care we have now isnt as good as it was supposed to be. also the law has just been signed so give it some time. so if u want to say u have the right to choose tell that to ur congress men or state official. If you do not have insurance and need one You can find full medical coverage at the lowest price check http://ow.ly/3akSX .If you have health insurance and do not care about cost just be happy about it and trust me you are not going to loose anything!