Social Security, Medicare and virtually every other federal program would face the budget ax under legislation unveiled Tuesday aimed at forcing Congress to dramatically cut spending over the coming decade.
The bill, co-sponsored by Sens. Claire McCaskill, D-Mo., and Bob Corker, R-Tenn., would phase in a federal spending cap of just more than 20 percent of the size of the economy, which they said would wring almost $8 trillion from the budget over the coming 10 yearse eee
The legislation doesn't actually propose cuts but instead sets spending caps and enforces them with the threat of automatic, across-the-board reductions.
McCaskill's idea went over like a lead balloon with fellow Democrats. She is the sole member of her party who's backing the legislation.
Feb 2, 2011
Not Likely To Work
From the Associated Press: