Katie Couric's Notebook: Deficit

President Obama's debt commission was charged with a nearly impossible task: Figure out a way to cut spending and bring in more money that both parties could support. 

Yeah -- good luck with that.

Rather than pander, the panel chairs inflicted equal opportunity pain. 

Their  final planwould trim $4 trillion dollars from the deficit over ten years by raising the retirement age, for instance, and nearly doubling the federal gas tax. Like it or not, their approach provides a blunt assessment of the crisis... and a way out.

Tonight, CBS Evening News will offer the same, as we launch a new series called Tough Choices. Should we slash funding for fighter jets? Have seniors pay more for Medicare? We'll show you what's at stake and what we stand to gain.

Political observers say the chairs' plan is unlikely to pass Friday's full commission vote and move to Congress. That may be true, but at least they had the guts to put something on the table.

That's a page from my notebook.

  • Katie Couric

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