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Panel Chairmen Recommend Cutting Federal Spending by $200 Billion
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The Deficit Commission setup by US President Obama recommended changes in the tax codes including elimination of the deduction for mortgage interest. It calls for limiting spending on health care, gradually raising the retirement age, and lowering the tax rate. The commission identified $200 billion in discretionary spending cuts, with half coming from defense spending. The federal gasoline tax rate would increase from 2013, increasing by 15 cents a gallon at that point. It would gradually increase the retirement age to 68 by 2050. And combine a reduction in benefits with an increase in taxes on wealthier senior's benefits. It seeks to slow Medicare growth to control health care spending. Other proposals. A freeze on salaries and bonuses of federal employees for three years, to save $15 billion by 2015. And proposes cutting the federal work force by 10% to save additional $13 billion by 2015.
Social Security in the U.S.
10/21/2010
Grouped Articles
Alice Rivlin's Bid to Cut the Deficit
BusinessWeek 10/21/2010
Deficit panel leaders propose curbs on Social Security, major cuts in spending, tax breaks
Washington Post 11/10/2010
Panel Chairmen Recommend Cutting Federal Spending by $200 Billion
Wall Street Journal 11/10/2010
Deficit Panel's Leaders Push Cuts
Wall Street Journal 11/08/2010
Wall Street Journal 03/03/2011
To Cut the Deficit, Look to Social Security
New York Times 04/04/2011
The US Deficit Commission report in 2010.
11/08/2010
Grouped Articles
Panel Chairmen Recommend Cutting Federal Spending by $200 Billion
Wall Street Journal 11/10/2010
Deficit Commission’s $200 Billion in Proposed Spending Cuts
Wall Street Journal 11/10/2010
Deficit Panel's Leaders Push Cuts
Wall Street Journal 11/08/2010
Debt Commission Seeks Social Security Cuts and Tax Increases
New York Times 11/10/2010
Deficit-Cutting Chairmen Call Washington's Bluff
Wall Street Journal 11/12/2010
Wall Street Journal 11/11/2010
Solutions to the U.S. budget deficit, including changes in Social Security and Medicare.
10/21/2010
Grouped Articles
U.S. Annual Budget Deficit Smallest in Nearly Seven Years
Wall Street Journal 06/11/2015
Alice Rivlin's Bid to Cut the Deficit
BusinessWeek 10/21/2010
Key Tax Breaks at Risk as Panel Looks at Cuts
Wall Street Journal 10/25/2010
Physician Panel Prescribes the Fees Paid by Medicare
Wall Street Journal 10/26/2010
Deficit panel leaders propose curbs on Social Security, major cuts in spending, tax breaks
Washington Post 11/10/2010
Panel Weighs Deep Cuts in Tax Breaks and Spending
New York Times 11/10/2010
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