6 Fixes to America’s Fiscal Crisis

[Valin]

The Heritage Foundation Morning Bell:

Amy Payne

November 30, 2012

 

President Obama made his first offer to congressional Republicans yesterday in negotiations over the “fiscal cliff”—an economic catastrophe of tax hikes just a few weeks away.

 

The White House’s proposal? $1.6 trillion in tax increases, $50 billion in new stimulus spending, and a change that would make it easier to raise the debt limit—so that all this spending could continue.

 

 

(Snip)

 

To make meaningful changes to the nation’s unsustainable budget policies, Foster and Fraser lay out four “simple, commonsense, and thoroughly vetted solutions” that already enjoy broad support across the political spectrum:

 

1. Raise the Social Security eligibility age to match increases in longevity.

 

2. Correct the cost-of-living adjustment (COLA) in Social Security.

 

3. Raise the Medicare eligibility age to agree with Social Security.

 

4. Reduce the Medicare subsidy for upper-income beneficiaries.

 

5. Phase out Social Security benefits for upper-income retirees.

 

6. Consolidate Medicare’s elements and collect a single higher premium.

 

(Snip)

 

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Balls in your court Mr. President

http://www.youtube.com/watch?v=Q3yTAx-BrA8]2008