The Bipartisan Budget Commission has put out some recommendations...and the "weeping-and-wailing" has already begun from the left AND the right.
Some of their recommendations (note: I'm "shorthanding" it a little):
1) CUT Social Security Benefits/decrease benefits based on need.
2) Increase retirement age to 69.
3) Cut Medicaire by reeling in escalating medical cost.
4) Eliminate the Mortgage Deduction (this is a tough one!)
5) Bring Federal Salaries more in line with the Private Sector and freeze hiring and bonuses.
6) Cut Defense
(I'm sure I've missed some; so you guys please add what you have heard).
It's interesting when you talk to people. They sure are "gung-ho" ready to cut Federal Spending...until it has an impact on them personally.
And of course, the Politicians are already starting to draw their "lines in the sand" (surprise...surprise...) and are starting the demagoguery and finger pointing.
Let's see what the "New" Congress is going to do.