"Deficit Commission" aims do its bidding on the backs of the middle class

Revere

Rookie
Jan 23, 2010
7,427
423
0
Watching you in my profile page
Same old shit. Medicare, Medicaid and Social Security are off the table.

9 days until represenative government is restored.

Deficit Panel Targets Areas to Cut - WSJ.com

By DAMIAN PALETTA
Sacrosanct tax breaks, including deductions on mortgage interest, remain on the table just weeks before the deficit commission issues recommendations on policies to pare back with the aim of balancing the budget by 2015.

The tax benefits are hugely popular with the public but they have drawn the panel's focus, in part because the White House has said these and other breaks cost the government about $1 trillion a year.

At stake, in addition to the mortgage-interest deductions, are child tax credits and the ability of employees to pay their portion of their health-insurance tab with pretax dollars. Commission officials are expected to look at preserving these breaks but at a lower level, according to people familiar with the matter.

The officials are also looking at potential cuts to defense spending and a freeze on domestic discretionary spending. It is unclear if the 18-member panel will be able to reach an agreement on any of the items by a Dec. 1 deadline.

Even if they do reach an agreement, any curbs on current tax breaks would likely face tough sledding in Congress. The banking and real-estate lobbies have fiercely rebuffed efforts to rescind the mortgage-interest deduction in the past.

Still, officials have found there aren't any easy ways to balance the budget, and they are expected to steer clear of more polarizing issues like Medicare, Medicaid, Social Security and a broad rewrite of the tax code in their short-term recommendations.
 
  • Thread starter
  • Banned
  • #3
What the hell is the point of an unelected deficit commission if they won't touch "polarizing issues" that representatives who have to stand for election already won't touch?
 

Forum List

Back
Top