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Warner And 'Gang Of Six' Craft Deficit Reduction Package

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Sen. Mark Warner (D-Va.) is hoping he and a bipartisan group of lawmakers can craft a broad package to reduce the deficit.
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Sen. Mark Warner (D-Va.) is hoping he and a bipartisan group of lawmakers can craft a broad package to reduce the deficit.

Most analysts are skeptical that Congress can address the nation's soaring deficit after the so-called super committee failed to find a compromise at the end of last year. But with the national debt nearing $16 trillion, fiscal hawks are feeling the pressure to act.

Sen. Mark Warner (D-Va.) has been a part of a bi-partisan group, dubbed the Gang of Six, that's been crafting a large package to cut spending and raise new revenue. Even with Congress gridlocked ahead of this year's elections, Warner says they're not letting up.

"You know the group of us bipartisan who say we've got to do a balanced approach... we're still at work," he says.

Many analysts don't expect Congress to address the soaring national debt until after this year's elections, which could bring a change of power on Capitol Hill.

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