Wednesday, October 26, 2011

Senate Democrats offer $3 trillion debt deal

Congressional Democrats are urging the debt-reduction supercommittee to pursue a far-reaching agreement to slice $3 trillion from the federal budget over the next decade through significant cuts to federal health programs, including Medicare, and as much as $1.3 trillion in new taxes.

At a closed-door meeting Tuesday, Sen. Max Baucus (D-Mont.) told his colleagues on the panel that they should pick up where President Obama and House Speaker John A. Boehner (R-Ohio) left off in negotiations this summer during a bitter battle to raise the federal debt limit, according to congressional aides in both parties familiar with the meeting. Obama and Boehner were discussing a plan that included provisions to raise taxes, raise the Medicare eligibility age and use a less generous measure of inflation to calculate Social Security benefits.
Read the rest here.

I draw your attention to the part about government manipulating the measuring of inflation. Inflation is already severely under-reported by the government.

1 comment:

Anonymous said...

We are so frakked. It's truly frightening to contemplate, but I can't see a way around our demise. Particularly when you factor in Europe. Oakland PD critically injured an Iraq war vet who happened to be exercising the Constitutional right to free assembly.

Lord, have mercy. On this day, the Feast of St. Demetrius, I am reminded that we (Christians) have been here before. But it wasn't pretty...