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Thursday, April 14, 2011

Comparing deficit plans

s health care law.

STORY: Health care law gets day in courtSTORY: Obama calls for deficit cutsSTORY: Medicare at the center of budget debateSocial Security

•Obama: Calls for bipartisan efforts to address the retirement program without privatizing it or slashing benefits in the future..

•Fiscal Commission: Gradually increases retirement age to 68 by 2050 and 69 by 2075; raises the amount of income subject to Social Security taxes in 2020 from about $168,000 to $190,000.

•Bipartisan Policy Center: Raises the taxable income ceiling to $190,000; trims benefits for wealthier beneficiaries; indexes the benefit formula to pay early retirees less and older retirees more.

•House Republicans: Creates a process under which Congress would have to address the retirement program

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