A bipartisan group of senators known as the "Gang of Six" announced a deficit-reduction plan that drew President Obama's praise, but Sen. Bernie Sanders (I-VT) on Wednesday called the plan "a disaster."

"It lowers the tax rate very substantially for the wealthy, and it will make devastating, this is not modification, devastating cuts in Social Security, Medicare, Medicaid, education, nutrition, you name the program that our struggling, working class in this country desperately needs, it is going to be cut," Sanders told Ed Schultz on MSNBC.

"I would estimate if the Gang of Six proposal were ever to pass... it would be absolutely devastating to working families. We have to do everything we can to rally the American people to prevent it. You're giving the Republicans about 90 percent of what they ever dreamed of."

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