The Debt Commission...what are the odds?

[Ibanez]

The debt commission of Simpson and Bowles faces an 18 man vote on thier suggestions to reduce the debt.

So what are the odds of progress?

Possible
Discretionary Spending Freeze- I think this is possible and this has already been implemented. A 5% cut is already being asked of the various Departments.

Federal Pay Freeze- Enough Said... There is a very good chance of this passing.


Doubtful

Increase in Gas tax- I don't think legislatures will do this when gas prices are still high, albeit not as high as they were a few years ago.

Eliminate Mortgage Int. Tax- Doubtful. I think this would hinder some people from buying homes becuase that tax write off is a great incentive. But, thats my take and my experience in Real Estate.

Medicare and Social security reforms- No legislator has the gall tackle this. They are politicians, not statesmen.

War Spending Cap