Jan Schakowsky is my congresswoman ~ she is terrific ~ I have voted for her repeatedly and will continue to do so ~ she served on the Fiscal Commission, and her suggested plan achieved the same or better goals than the Commission, but with minimal affect and effect on critical social programs ~ Sooz
Opposing view on fiscal reform: 'A better, fairer way' Updated 15h 30m ago
By Jan Schakowsky
The Fiscal Commission's final proposal glibly talks about "shared sacrifice" and making "painful" decisions to get our fiscal house in order. I ask: Painful for whom?
The proposal hammers Medicare beneficiaries with higher out-of-pocket costs to pay for rising health care expenses. It sticks it to Social Security recipients by raising the retirement age and slashing benefits. It punishes military families by freezing non-combat pay for three years and cutting health benefits. It betrays American workers by encouraging outsourcing through a new tax loophole for U.S. corporations.
The poor and middle class have already sacrificed. Real income for most Americans has actually dropped, and they did nothing to turn the budget surpluses of a decade ago into record deficits. Money has gushed from middle-class pockets while the top 1% of Americans now own 34% of our nation's wealth — more than the combined wealth of the bottom 90% of Americans. Even during this great recession, the top 5% saw their incomes rise. The commission plan asks those who have not enjoyed the prosperity party to pick up the tab.
I offered a progressive plan, reaching the commission's goal of primary budget balance by 2015, without further eroding the middle class or hurting seniors and lower-income earners.
My plan first makes investments to reduce unemployment. It achieves billions in savings through measures that include: a public health insurance option; required price negotiation between Medicare and drug companies; targeted defense spending cuts such as eliminating unnecessary weapons programs; closing tax loopholes for companies that outsource American jobs; treating capital gains and dividends like regular income; and eliminating the Bush tax cuts for the top two income brackets.
Economists and the commission agree: Social Security did not contribute to the deficit. My plan makes modest adjustments to ensure 75-year solvency, including raising additional revenue from higher wage earners and improving benefits for others.
I voted against the commission's proposal because there is a better, fairer way.
Rep. Jan Schakowsky, served as a member of the Fiscal Commission. She is the Democrats' chief deputy whip and a member of the House Democratic leadership.
http://www.usatoday.com/n...06-editorial06_ST1_N.htm