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Nov. 11 (Bloomberg) — The co-chairmen proposed a $3.8 trillion deficit-cutting plan yesterday that would trim Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction. It would reduce the annual deficit from $1.3 trillion this year to about $400 billion by 2015 and start reducing the $13.7 trillion national debt.

This can't stand, please sign and retweet my Twitter petition at http://act.ly/...

Originally posted to ajwysocki on Wed Nov 10, 2010 at 09:37 PM PST.

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Comment Preferences

  •  I got pulled away from my computer (0+ / 0-)

    around 1:30 this afternoon for a meeting, one thing led to another and i have had had only occasional Internet access till now.

    deficit commission? holy information overload, batman.

    moral of the story - I need to quit my job and divorce my wife if I am to properly keep up.

    do you know if there's a single page somewhere with an accurate summary of the recommendations? I will look around the site, there may be one but if you have a URL handy that would be nice. thanks.

    oh and yeah - as a general principle I oppose having my social security benefits cut, but there could be exceptions.

  •  Way too vague (3+ / 0-)
    Recommended by:
    kpardue, agent, jan4insight

    What constitutes a cut? Many economists on the left & right suggest changing the way benefits are calculated. Look, something has to be done about the deficit, & while I don't agree with a lot of what the deficit commission chairs put out, there were some interesting ideas in the report.

    But there's a larger problem with your petition. Every election is a choice between 2 candidates. In 2012, I'll have to choose between Obama & the GOP candidate. None of the possible GOP candidates have proven to be sane enough to be President. I refuse to vote for any of them.

    Stop with the panic. This report was not endorsed by anyone else on the commission, & the commission's report is not guaranteed a vote in Congress. It will be released & die a quiet death.  

    "I have come here to chew bubblegum and kick ass... and I'm all out of bubblegum."

    by mark louis on Wed Nov 10, 2010 at 09:48:52 PM PST

    •  i just started reading about this (0+ / 0-)

      but so far I'm getting the impression that social security retirement benefits may be means tested to some extent, with the highest wage earners seeing the largest cuts. am I correct? if so, that sounds good to me.

      but take away my mortgage deduction? all that will do is raise my already insane housing costs even more and provide yet further ammunition to my wifes ongoing campaign for us to move to a lower cost red state.

    •  Social Security has had a surplus, the trust (1+ / 0-)
      Recommended by:
      bluezen

      fund has been accruing for many years. SS is not the cause of our deficit. SS is a minimal safety net and if you are okay with cutting benefits then good for you but politically it is a killer. If Obama agrees to cuts in SS benefits he will most likely lose in 2012 (and I say this as a big Obama supporter). I don't think we can count on the GOP nominating Palin, they will find some stuffed shirt who looks good and mouths platitudes. Cutting SS is not the way to go.

      •  If Obama cuts SS (1+ / 0-)
        Recommended by:
        bablhous

        I will not vote for him. Obviously I can't vote Republican. I will therefore have no choice but to abstain from voting on the Presidential part of the ballot.

        You know we live in strange times when hearing something as simple as the truth almost seems shocking.

        by redhaze on Wed Nov 10, 2010 at 11:22:09 PM PST

        [ Parent ]

      •  Agree w/you on the Obama is toast (1+ / 0-)
        Recommended by:
        ORDem

        in 2012 if he allows SS to be cut, and the GOP not nominating Palin (mostly b/c they know we want them to).

        I think their ticket will be Romney/Petraeus or Romney/Anyotherwhiteguy.  The GOP always rewards its runner-up in the last go-round with the nod for first spot on the ticket.  McCain got beat out by GW in 2000 and he was the nominee in 2008.

  •  Sickening.. (6+ / 0-)

    I am on social security and when I mention SS to anyone under 40, I get the same response.

    "Why does it matter, there will be no money when I retire anyway?"

    This is the kind of shit that happens when you get your news from the network for millionaires.

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