Panel Chiefs Back Tax Increases, Social Security Cuts05:28

This article is more than 9 years old.

In a draft proposal, the chairmen of President Obama's bipartisan deficit reduction panel are recommending a gradual increase in the retirement age for full Social Security benefits and decreased benefits for wealthier Americans.  The proposal also calls for deep cuts in domestic and military spending and a gas tax hike.  We speak with Howard Gleckman, resident fellow at the non-partisan Tax Policy Center.

This program aired on November 11, 2010.

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