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GOP 'Cliff' Plan: Cut Medicare and Social Security

GOP 'Cliff' Plan: Cut Medicare and Social Security

Published: Monday, 3 Dec 2012 | 5:29 PM ET
By: Associated Press and CNBC.com

Seeking to jump-start stalled talks on avoiding the "fiscal cliff," House Republicans on Monday proposed a new 10-year, $2.2 trillion blueprint to President Barack Obama that calls for increasing the eligibility age for Medicare and lowering cost-of-living hikes for Social Security benefits.

The GOP plan proposes to raise $800 billion in higher tax revenue over the decade but it would keep the Bush-era tax cuts -- including those for wealthier earners targeted by Obama -- in place for now.

Read more: http://www.cnbc.com/id/100271782

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More "adjustments" to the cost-of-living increases are inevitable. Otherwise, the USA cannot inflate away the debt. Remember, it was by changing the way cost-of-living increases were calculated that Clinton balanced his budget. Easy pickins.

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