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Washington: Listen Up!

By Harry Smith

President Obama's deficit reduction commission made known some of its ideas this week. And if we can have a serious discussion about them, we'll know America has indeed begun to grow up. Like raising the age at which we become eligible for Social Security -- it's too low. We all know it. When Social Security went into effect in 1935, life expectancy in the United States was barely 60. Now it's 80. As for taxes, imagine being able to fill out your taxes on a one-page form. "Don't take my deductions," you scream. How about trading all those deductions and loopholes for a lower flat rate? Lawyers and accountants won't like it, but imagine the efficiency. The commission named farm subsidies as a target, but why not examine all subsidies. And trimming the budget for weapons procurement is going straight to what Dwight Eisenhower warned us about long ago -- the military industrial complex. Washington: Please take this seriously.

Just a Minute...I'm Harry Smith, CBS News

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