If you haven't read the actual document released by the "Gang of Six," you can download it here. Don't feel intimidated — it's short and not even remotely technical. As a matter of fact, it says pretty much nothing in terms of suggestions for real legislation.
So why is Our President so enthusiastic? Well, it's, sort of, bipartisan. Three extremely conservative (but not Tea Party) Republicans got together with three Blue Dog Democrats, and came up with roughly four pages of mostly conservative talking points. Needless to say, both the left and the Tea Partiers are extremely upset. "Mostly conservative" is what passes for "moderate" these days.
As for me, I continue to hope that Our President has no strong interest in any of these particular talking points, and is using them just to put pressure on the Tea Partying ideologues in the House. All he wants right now is a goddamned increase in the debt ceiling without being forced to raise it himself, without Congressional approval (as I suggested a couple of weeks ago.)
Bill Clinton, it seems, agrees with me. So far, as best I can tell, nobody's heard from W.