Debt Commission Votes On Federal Debt Plan

By Scott Sarvay

December 3, 2010 Updated Dec 3, 2010 at 6:38 PM EDT

WASHINGTON (Indiana's NewsCenter) - President Obama's Fiscal Commission met Friday to cast a final vote on the controversial plan to slash $4 trillion in federal debt.

One of the panel's recommendations to cut the nation's deficit included $200 billion in military and domestic cuts by 2015.

Other ideas were gradually raising the full retirement age to 69 and reducing Social Security benefits for wealthier recipients.

Although the plan drew bipartisan support with 11 of 18 members voting yes, the result still fell short of the 14 votes needed for the commission to present its recommendations to Congress for a legislative vote.

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