The Virginian-Pilot
Warner to introduce bill that would cut trillions in spending
U.S. Sen. Mark Warner is about to heed his own admonition that Congress "put up or shut up" when confronting the dangerously high federal debt.
The Virginia Democrat and U.S. Sen. Saxby Chambliss, a Georgia Republican, are close to introducing a complex bill that would cut trillions in federal spending, raise some taxes and lower others, and spread the pain of cutting the federal deficit among just about everyone in America.
Nothing will be sacred. Everything is open for cutbacks or change to get spending under control, including defense, Social Security and Medicare. Look for smaller tax write-offs on house payments or charitable contributions. Higher gasoline taxes are likely.
.................
More money would be raised for Social Security benefits by increasing the payroll tax on large salaries and reducing benefits in the future. The retirement age would be slowly increased to 68 years by about 2050 and 69 by 2075.
The REST:
http://hamptonroads.com/2011/01/warner-introduce-bill-would-cut-trillions-spendingIsn't it very curious that the brunt of "shared sacrifice" comes from cutting crucial social programs that keep the middle class from an avalanche of poverty and misery? Very curious, indeed.