As debt debate begins, Obama praises 'Gang' plan

President Barack Obama discusses the continuing budget talks, Tuesday, July 19, 2011, in the the briefing room of the White House in Washington. (AP Photo/Manuel Balce Ceneta)

July 20, 2011 5:57:52 AM PDT
Declaring "11th hour" urgency" to raise the government's borrowing limit, President Barack Obama on Tuesday hailed a plan by "Gang of Six" senators from both parties to reduce federal deficits as the kind of balanced approach that could break the economy-threatening deadlock. He said it was time for Congress to rally around such a proposal.

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