Social Security, Medicare revamp part of Obama plan to cut deficit

From Pension and Investment:

Mr. Obama said at a Jan. 7 news conference that restructuring Social Security and Medicare would be “a central part” of his efforts to reduce the federal deficit. The president-elect offered no details but said he would reveal more when his administration’s budget is released next month.

This just seem like "pie in the sky" dreaming. The main thing I am hearing from Obama is about all the new spending and social programs. He also talks a lot about taxing the high earners more...this could push talent out of country. He needs to remember we are in a world economy and we are becoming one of the more expensive countries to conduct buisness. Even if its just talk...companies will leave. Look at the oil service companies...one by one they are leaving for other countries that will not threaten "windfall pofits taxes".

“Raising the retirement age is the easiest way to do things because people are healthier, they’re living longer and jobs are less strenuous,” said AEI's Mr. Biggs, a former deputy commissioner of the Social Security Administration.

I guess "easiest" is a relative term. Pushing this on the retiring baby boomers (the largest voting population in the US) would likely be political suicide.