Liberal groups unveil alternative deficit plan

Zachary Roth
Senior National Affairs Reporter
The Lookout
Bowles, Simpson
Bowles, Simpson

A coalition of liberal groups has released a deficit-cutting plan that would save money through higher taxes for the wealthy and deeper cuts to the military, and would make fewer cuts to social programs.  The plan is intended as an alternative to the draft proposal earlier this month by the co-chairmen of the president's deficit commission, which drew ire from progressives.

Here's a rundown from the New York Times.

(Photo of Obama flanked by deficit panel co-chairmen Erskine Bowles, left, and Alan Simpson: AP/J. Scott Applewhite)