Coburn Proposes $9 Trillion Deficit Cut Measure

July 18, 2011 - 3:29 PM

WASHINGTON (AP) — One of the Senate's staunchest budget-cutters has unveiled a massive plan to reduce the deficit by $9 trillion over the coming decade.

Oklahoma Republican Tom Coburn is proposing to gradually raise the age at which people can claim their full Social Security benefits to 70 and cut farm subsidies and the popular Medicare program. He also proposes that some veterans pay more for medical care and prescription drugs.

Coburn's $9 trillion savings figure doesn't include another $2.4 trillion in cuts to Social Security that are funneled back into the program.

Coburn was a member of President Barack Obama's fiscal commission and voted for its plan to cut the budget by about $4 trillion over a decade.