GOP 'Cliff' Plan: Cut Medicare and Social SecuritySubmitted by emalvini on Tue, 12/04/2012 - 01:16
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