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11-10-2010, 02:51 PM #1
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Obama Debt Panel Proposal Would Cut Social Security, Medicar
U.S. Debt Proposal Would Cut Social Security, Medicare
By Heidi Przybyla and Brian Faler
Nov 10, 2010 12:53 PM ET
Erskine Bowles, co-chairman of the National Commission on Fiscal Responsibility and Reform. Photographer: Andrew Harrer/Bloomberg
The co-chairmen of President Barack Obama’s debt-reduction commission will propose cuts to Social Security and Medicare, as well as reductions in income tax rates in exchange for curbing tax breaks, according to a Republican aide who attended the meeting.
The chairmen’s plan is already causing some Democrats and Republicans on the 18-member commission to balk. The plan will be announced at 1 p.m. Washington time today, said commission spokesman Fred Baldassaro.
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