Listen to this group of retired lawmakers discuss their solutions based on their in-depth review of budgets and taxes. As O'Donnell points out at the start of this segment on his new program "The Last Word," to expect the current batch of elected officials to stop campaigning long enough to actually study and attempt to come to an agreement on this huge problem simply isn't going to happen. Between this independent report and the solutions presented, and the appointed Deficit Reduction Commission's report due out in December, I suspect many of these solutions will indeed be implemented in one form or another. The top suggestions include cutting the defense budget by ending production of cold war weapons, increasing the Social Security retirement age to 70, repealing employer health-care tax exclusion and offer a refundable health care tax credit, and increasing the federal gasoline tax by $1 per gallon. (All explained more fully in either the following video or the link below the video; before anyone starts attacking those points, you should first see the explanations for how each will work.) msnbc tv- msnbc.com Balance Federal Budget - How to Balance the Federal Budget - Esquire THE COMMON THREAD HERE IS THAT REPUBLICANS AND DEMOCRATS NEED TO STOP ATTACKING EACH OTHER AND WORK ON SOLVING THE PROBLEM.