I suspect that sometime in the future there will be changes to the rules effecting existing pension recipients. If you look at what is happening in Greece and Italy or what has happened in Germany, current pensioners are having their benefits cut. I am sure that eventually it will happen here including means testing COLA. The new pay scale has not been revised lower. Salaries are considerably higher than when I left the government in terms of my rank and grade in the Executive Service.
My previous statement was to point out the house bill has no contributions from the wealthy. In order to fix this budget mess ALL will need to pony up or there will be no bipartisan support and the gridlock will continue. 47% of Americans pay no Federal income taxes at all.
The wealthy are already paying more than their FAIR share in taxes. What is an equitable tax rate for someone earning over $100,000 or $250,000 or 1 million? And exactly who decides who is wealthy? What is your definition of wealthy?