Today, Washington was abuzz with the of the “Gang of Six” deficit-reduction plan, which received a boost when Sen. Tom Coburn, R-Okla., decided to rejoin the bipartisan group of Senators he had previously left in May.

Though it’s being billed as a $3.7 trillion deficit-reduction package, based on the limited details we have, it looks like it defers the actual tough decisions to a later date.

The plan claims just $500 billion in “immediate deficit savings,” but even these don’t seem all that immediate.

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