Federal Budget Talks Lacking Optimism

By: Associated Press and WTVY
By: Associated Press and WTVY

WASHINGTON (AP) -- A member of a bipartisan "Gang of Six" senators says the group is unlikely to reach agreement on a plan to
cut the deficit by $4 trillion over the next decade through a mix of new tax revenues and cuts across a wide swath of the federal budget.

Sen. Tom Coburn says chances of the group reaching agreement
after months of negotiations are "not good."

The Oklahoma Republican was a member of President Barack Obama's fiscal commission and he voted for the panel's plan in December.

The group has been closely watched by those hoping for a bipartisan
deficit-cutting plan that might gain momentum despite the partisanship consuming Capitol Hill.

Sen. Dick Durbin of Illinois, a member of the group, said that it met Tuesday and will meet again Wednesday.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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