In emerging Senate plan, Obama sees new hope for major debt deal

[busenbust]

In emerging Senate plan, Obama sees new hope for major debt deal.

^^massive pump in equities on the news / Gold down . We shall see ...

http://www.latimes.com/news/politics/la-pn-obama-debt-20110719,0,7223889.story

The prospects for a significant debt-ceiling compromise were revived Tuesday, as President Obama signaled possible support for a plan being offered by the so-called Gang of Six senators that includes both steep spending cuts and an overhaul of the tax code.

Making a surprise appearance in the White House press briefing room, Obama said the package crafted by the bipartisan group is "broadly consistent with the approach I've urged," and called it a "very significant step" in the months-long negotiations over raising the nation's debt ceiling.