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The two deficit-hawk extremists President Obama put in charge of his fiscal commission released their personal suggestions for cutting the federal budget deficit on Wednesday. And while it’s quite possible that not a one of them will make it into the commission’s official recommendations, which require the approval of 14 or the 18 commissioners (not just two), the document will inevitably be welcomed as a “serious” contribution to the debate – at least by Republicans and conservative Democrats.
But taken as a whole, the plan authored by Erskine Bowles and Alan Simpson would have devastating effects on the government and its ability to help the most vulnerable in our society, and it would put the squeeze on the middle class, veterans, the elderly and the sick – all in the name of an abstract goal that ultimately only a bond-trader could love. It also contains outrageous assumptions and oversights.
Here are the top 10 flash points: