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View Diary: President Obama considering putting social insurance cuts in his budget (295 comments)

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  •  Sen. Durbin is the ring leader. (1+ / 0-)
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    Dick Durbin's new Social Security reform commission (Social Security Defenders blogathon)

    Have you heard about Dick Durbin's proposal for a new Social Security reform commission?  It sounds remarkably like the failed Simpson-Bowles Catfood Commission, complete with special rules that allow its recommendations, if approved by the commission, to take the express route to the floor of Congress for a vote with no amendments and limited debate.  

    The number two Democrat in the Senate championing this bipartisan bill was asked if this new commission would be like the Greenspan commission of the 1980's and he said that he prefers to refer to it as similar to Simpson-Bowles.  One of the most interesting things about it is that this time, the commission won't be dissolved after it finishes its work.  It comes back to life every ten years.
    Durbin said that the need to raise the nation’s $16.6 trillion debt ceiling this summer will provide an “opportunity” to forge a deficit bargain that raises tax revenue and reforms entitlement, but he gave a relatively pessimistic assessment
    On a related issue, Durbin announced that he will soon introduce a bipartisan bill to create a Social Security commission tasked with making a report to Congress on how to make that program solvent over 75 years. That report would get fast-track consideration in the House and Senate, he said.
    “I think chained CPI is a real possibility, only if it crafted in the right way,” Durbin said.
    Read this great article at the hill.

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