North Carolina's U.S. senators say they're on board with a new proposal to decrease the national debt. A bipartisan proposal released Tuesday from a group of six senators would attempt to cut the deficit by $4 trillion over the next decade. The plan from the so-called "Gang of Six" cuts spending from the defense budget, Medicare and Medicaid. It also increases some tax revenues. Democratic Senator Kay Hagan says she supports the proposal.
Sen. Kay Hagan: "This would be a long-term fix that would set the stage for our country to reform our tax code; make it simpler, make it fairer; and ultimately reduce personal income tax rates as well as corporate tax rates."
Reports indicate Republican Senator Richard Burr also supports the plan. Burr reportedly has suggested raising the debt ceiling temporarily to allow the House and Senate to pass the proposal without a government default.