Posts Tagged ‘deficit commission’

Obama Deficit Commission Taking Heat From 2075 Retirees Talks Of A New Tea Party Movement

November 10, 2010

 In a politically incendiary plan, the bipartisan leaders of President Barack Obama’s deficit commission proposed curbs in Social Security benefits, deep reductions in federal spending and higher taxes for millions of Americans Wednesday to stem a flood of red ink that they said threatens the nation’s very future.

The plan arrived exactly one week after elections that featured strong voter demands for economic change in Washington. But criticism was immediate from advocacy groups on the left and, to some extent, the right at the start of the post-election debate on painful steps necessary to rein in out-of-control deficits.

The plan would gradually increase the retirement age for full Social Security benefits — to 69 by 2075 —2075 retirees are considering a new Tea Party  advocacy group.