Whaddaya wanna cut?

Nothing apparently for Republican leaders in Congress. Eric Cantor (minority whip) waxing on about needing to cut spending but identifying no spending he would cut. I think the 'pay for' for extending all the tax cuts that are set to run out on Dec. 31, 2010 because they were enacted via budget reconciliation is around $800 Billion over 10 years. Here are two very simple suggestions that won't quite get there but will be a start:

*cap the tax exclusion for employer paid health insurance premiums at the national mean premium level of ~$13,500 for family cover and corresponding single cover (~$5,000). This will reduce the deficit by around $500 Billion over 10 years. This would make those of us (like me) with employer sponsored insurance pay attention to our health insurance like never before.

*raise the Medicare eligibility age by two months per year staring in 2014 until it reaches age 67 by 2025. This will save about $50 Billion over 10 years, but much more in the long term. And in 2014 there will be income based subisidies for the uninsured to purchase private cover in the exchanges.....