For a few, the latest plan for tackling the nation's huge debt problem is a "dose of fiscal sanity." President Obama, among others, took a cautious approach, saying the bipartisan panel should be able finish its work before anyone begins "shooting down" its draft. But many in official Washington couldn't hold back -- they reacted with horror to a package of painful cuts designed to rein in the federal spending that has created a runaway national debt.
Do away with the treasured income tax write-off for mortgages? No way, they said, it's a slap at the middle class. Cut defense spending? Ever heard of the military-industrial complex?
And raise the early retirement age for Social Security to 64 and the full retirement to 68 (by mid-century) and eventually to 69? "This not a package I could support," said Rep. Jan Schakowsky (D-Ill.), a liberal member of the National Commission on Fiscal Responsibility and Reform. That's the formal name of the deficit panel appointed by the White House and congressional leaders and tasked with issuing a final report on Dec. 1. Assistant Senate Majority Leader Dick Durbin (D-Ill.), another panel member, said parts of the preliminary plan were inspirational, but added that he hated other recommendations "like the devil hates hot water." AFL-CIO President Richard Trumka's went further: "The chairmen of the deficit commission just told working Americans to drop dead."
The best thing that Republican Sen. Judd Gregg of New Hampshire could say about the recommendations -- really just ideas at this point -- was that they represented a "starting point." Yet, the 18-member commission has been at its work for more than eight months and is just weeks from its deadline.
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