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Are these good idea's to cut the deficit?

WASHINGTON – Leaders of President Barack Obama's bipartisan deficit commission on Wednesday proposed reducing the annual cost-of-living increases in Social Security, part of a bold plan to control $1 trillion-plus budget deficits.

The proposal also would set a tough target for curbing the growth of Medicare and recommends looking at eliminating popular tax breaks, such as mortgage interest deduction.

As proposed, the plan by Chairman Erskine Bowles and former Sen. Alan Simpson, R-Wyo., doesn't look like it can win support from 14 of the commission's 18 members to force a debate in Congress. Bowles is a Democrat and was former President Bill Clinton's White House chief of staff.

Answer Question
 
sweet-a-kins

Asked by sweet-a-kins at 1:49 PM on Nov. 10, 2010 in Politics & Current Events

Level 34 (67,502 Credits)
Answers (29)
  • Cuts to Social Security and Medicare are making some liberals on the panel recoil. And conservative Republicans are having difficulty with options on how to raise tax revenue. The plan also calls for cuts in farm subsidies, foreign aid and the Pentagon's budget.
    This is not a proposal I could support," said Rep. Jan Schakowsky, D-Ill. "On Medicare and Social Security in particular, there are proposals that I could not support."


    http://news.yahoo.com/s/ap/20101110/ap_on_bi_ge/us_cutting_deficits

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 1:49 PM on Nov. 10, 2010

  • Only if anyone who signs onto that plan has a political death wish. Nope. Reduce the deficit by reducing SPENDING. Period.
    gdiamante

    Answer by gdiamante at 1:51 PM on Nov. 10, 2010

  • cost of living for SS...sure. You should get out what you pay in.

    Mortage interest...I love getting that break but if that's the difference between having a decent public schools, public safety, and community services, i guess i could eat it. (It gets the evil eye though).
    UpSheRises

    Answer by UpSheRises at 1:53 PM on Nov. 10, 2010

  • Leaders of President Barack Obama's bipartisan deficit commission on Wednesday proposed reducing the annual cost-of-living increases in Social Security, (let's change that to annual Congressional raises )part of a bold plan to control $1 trillion-plus budget deficits.


    Seriously, he wants to cut the seniors budget? Now I'm going to read the rest.

    lovinangels

    Answer by lovinangels at 1:54 PM on Nov. 10, 2010

  • OH GOD....IF THEY ELIMINATE THE MORTGAGE INTEREST DEDUCTION, PEOPLE WILL DECIDE TO NOT BUY AND JUST KEEP PAYING RENT. THAT WOULD SUCK. tHE HOUSING INDUSTRY IS ALREADY IN TROUBLE
    ooops,sorry about the caps.
    Social Security cuts? I guess nobody cares about gramma and grampa.
    Stop spending billions on WAR.
    kerp1960

    Answer by kerp1960 at 1:54 PM on Nov. 10, 2010

  • Seriously, he wants to cut the seniors budget? Now I'm going to read the rest.


    Who is he? a bipartisan deficit commission came up with this

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 1:56 PM on Nov. 10, 2010

  • "It's a very provocative proposal," said GOP Rep. Jeb Hensarling of Texas. "Some of it I like. Some of it disturbs me. And some of it I've got to study."

    I agree with this.

    There is a lot of excess I could happily see them do away with. Tons and tons of it.
    lovinangels

    Answer by lovinangels at 1:57 PM on Nov. 10, 2010

  • There is a lot of excess I could happily see them do away with. Tons and tons of it.


    me too....Not the least of which is the FREE LUNCH program...FOR CONGRESS! lol...they are qucik to take away pook kids free lunch programs...

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 1:59 PM on Nov. 10, 2010

  • Who is he? a bipartisan deficit commission came up with this
    _______________________________________
    Baby climbed up me halfway through- got interrupted reading, only saw Obama, missed the other half of the sentence. Sorry.
    lovinangels

    Answer by lovinangels at 1:59 PM on Nov. 10, 2010

  • Baby climbed up me halfway through- got interrupted reading, only saw Obama, missed the other half of the sentence. Sorry.


    No worries...Enjoy the baby interruptions....I miss them....My 5 year old still does it..but its not the same....sigh

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 2:02 PM on Nov. 10, 2010

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