Business Roundtable CEOs announce their proposal to
impose Austerity "fix the debt." This is grotesque.
(1) push eligibility age to 70 (SSI and Medicare)
(2) chained CPI
(3) some vague "means testing" for "some people"
(4) a goody for private health insurers (not again!): they get to compete with Medicare. Read more about CEO Group Catfood Manifesto
So the newest rumors about the fiscal cliff have been leaked to Ezra Klein and Paul Krugman, who comments on them on his blog today. He says:
Those cuts are a very bad thing, although there will supposedly be some protection for low-income seniors. But the cuts are not nearly as bad as raising the Medicare age, for two reasons: the structure of the program remains intact, and unlike the Medicare age thing, they wouldn’t be totally devastating for hundreds of thousands of people, just somewhat painful for a much larger group.
It's the old Washington two-step: Float an absolutely unacceptable idea. Then, when the outcry from your supporters has hit its peak, put forward a proposal that's merely horrible and call it a win. Now watch the Democrats swallow it and smile. Read more about Krugman considers catfood for breakfast