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http://xfinity.comcast.net/articles/news-national/20121127/U...

Tennessee Sen. Bob Corker is circulating a 10-year, $4.5 trillion plan loaded with controversial proposals, including a less generous inflation adjustment for Social Security, and a gradual increase in the regular Social Security retirement age to 68 and the Medicare eligibility age to 67.

Corker's plan also includes $749 billion in higher tax revenue claimed by capping itemized deductions at $50,000, a proposal that hits wealthier taxpayers the hardest.

Corker has yet to attract any Democrats in support.
But he's a rarity on Capitol Hill in that he's offering specific spending cuts and tax increases instead of vaguely-worded bromides about how to tackle the country's deficit woes.

Federal workers would get hit with higher contributions to their pensions and would receive an $11,000 voucher payment to finance their family's health insurance, saving taxpayers about $7 billion a year.

Corker's plan is a longshot. For starters, he rejects the idea of settling for a "down payment" on the deficit that would be used to punt the big decisions on the budget to next year, even though that's the recommendation of Boehner. And his plan is tilted to painful choices on Social Security and Medicare that Democrats are unlikely to embrace.

"Kicking the can down the road — setting up a process for token deficit reduction today with the promise of more reforms later — is misguided and irresponsible and shows a total lack of courage," Corker says.


Yes. Most here won't like this plan as most here, as I do, that budget balancing could be accomplished by only cutting spending. But that won't happen as neither party would support such a proposal.

I expect this proposal will be beat up by the democrats & ignored by the republicans.

Methinks that mebbe we need a complete slate of freshmen congresspersons who MIGHT work out a compromise rather than listen to their lobbyist masters.
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