All eyes on 'Gang of Six' as deficit deal nears

WASHINGTON — They have met in almost total secrecy for months, holed up in an office on Capitol Hill: three Republican and three Democratic senators trying to hammer out a deal to reduce America's vast deficit.

Now, with the "Gang of Six" senators widely anticipated to deliver their proposal in early May, the air of expectation in Washington is acute.

Many believe their efforts represent the only real chance — and a slim one at that — of the U.S. Congress reaching a deficit-reduction deal before next year's elections. A sense of crisis over the $1.4 trillion deficit is gripping Wall Street and Washington, and it's weighing heavily on voters.

"It's the only bipartisan plan around," one Republican political strategist told Reuters, speaking on condition of anonymity because he did not want to be seen endorsing the proposal before it is released.

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