The bi-partisan fiscal commission's proposal seems a very sensible. My only complaint is that it does not cut enough. I worry that $200 billion a year in savings, while a good start, is not enough to make a dramatic debt course correction. I would also have liked to have seen more of a focus on wage/benefit cuts to Federal employees. Below is a graph highlighting the explosion of Federal compensation. The growth in compensation has been dramatic and unnecessary. The wage differential between public and private sector employees is unfair, unwarranted and unsustainable.
The proposal is a good start but more needs to be done. Links for more info below.
Yes, We Can! (Avoid Greece's Fate) - Barron's
Bi-partisan Fiscal Commission
Chart thanks to: Carpe Diem Blog