Wednesday, July 28, 2010

Deficit-cutting ax may fall on Social Security

Deficit-cutting ax may fall on Social Security - Yahoo! News: "Merely making all income subject to the payroll tax would cure the problem, says Mr. Baker."

..."Her fear is that President Obama's bipartisan National Com­mis­sion on Fiscal Responsibility and Reform will recommend cuts in Social Security benefits as one means to reduce the burgeoning federal budget deficit. If 14 of 18 commissioners agree on a deficit-cutting plan, it could be passed at a lame-duck session of Congress without the extensive hearings and discussions that normally precede such an important measure."

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