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Deficit Commission Co-Chairs Propose Deep Cuts to Social Security Benefits
Interview with Maria Freese, director of government relations and policy at the National Committee to Preserve Social Security and Medicare, conducted by Scott Harris
The co-chairs of President Obama's National Commission on Fiscal Responsibility and Reform dropped a bombshell on Nov. 10, when they released a set of controversial proposals designed to rein in America's ballooning debt. The co-chairs, former U.S. senator from Wyoming Alan Simpson and Erskine Bowles, chief of staff under President Clinton, presented a set of recommendations that include: raising the Social Security retirement age to 69 by 2075; substantial cuts in Social Security and Medicare benefits; capping both government expenditures and revenue at 21 percent of GDP; eliminating 200,000 federal jobs by 2020; raising the federal gas tax by 15 cents per gallon; reducing the corporate income tax; eliminating the mortgage interest deduction; reducing the number of U.S. troops in Europe and Asia and canceling some Pentagon weapons programs. Story continues
http://www.btlonline.org/2010/seg/101126af-btl-freese.html
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Original: BTL:Deficit Commission Co-Chairs Propose Deep Cuts to Social Security Benefits