One of the hardest things for a politician to do is to ask people to give up benefits or pay more in taxes. Which is why President Obama appointed a bipartisan commission last February to come up with ideas to deal with the ever-ballooning deficit. Now the panel is releasing its suggestions and the complaints are already coming in.
The panel recommends cutting the tax deduction for mortgage interest payments. It suggests reducing some social security benefits and raising the retirement age. There's also a 15-cents-a-gallon increase in the federal gasoline tax, but a proposal to consolidate other taxes.
From the sounds of it, everyone will be affected by the sacrifices proposed.
We're asking you, What would you be willing to give up to help the government save money?
The plan would slash nearly $4 trillion from the projected deficits through 2020 and a final package is due by December 1.