Remember Durbin also excluded any raise in the retirement age.
First we are going broke due to over spending, yes reduced revenue collection is also an issue, but unless we want the WHOLE GDP going to entitlement spending and debt, we are over spending.
This just in...
Senate Majority Leader Harry Reid, D-Nev., and Senate Republican leader Mitch McConnell remained at odds on such key issues as the income threshold for higher tax rates and how to deal with inheritance taxes, among other issues. McConnell complained that Reid had yet to respond to a GOP offer made Saturday evening and reached out to Vice President Joe Biden, a longtime friend, in hopes of breaking the impasse.
One sign of progress came as Republicans withdrew a long-discussed proposal to slow future cost-of-living increases for Social Security recipients as part of a compromise to avoid the cliff. Democrats said earlier Sunday that proposal had put a damper on the talks, and Republican senators emerging from a closed-door GOP meeting said it is no longer part of the equation.
“I was really gratified to hear that Republicans have taken their demand for Social Security benefit cuts off the table. The truth is they should never have been on the table to begin with,” Reid said late Sunday afternoon. “There is still significant distance between the two sides, but negotiations continue.”
And here lies the reason for our impending bankruptcy: “I was really gratified to hear that Republicans have taken their demand for Social Security benefit cuts off the table."
Reducing the amount of increase of COLA is a cut...off to Greece we are.
What I don't REALLY get is how Obama continues to avoid responsibility.