The Hill: What’s needed: A $4 trillion gimmick-free deficit deal in two parts

By Erskine Bowles and Alan Simpson

What this country needs — and what the American people deserve — is a $4 trillion-plus, gimmick-free fiscal consolidation package that stabilizes and then reduces our debt as a share of the economy.

Bowles and Simpson served as co-chairmen of the National Commission on Fiscal Responsibility and Reform.

Here's a suggestion:  Do a revenue neutral tax cut with the payroll tax.  I've seen that proposal elsewhere.  It changes the incentive structure so that people would be inclined to save money on taxes by changing their transportation habits.  Instead of using gasoline powered vehicles, use some other energy device instead.  This will help with the oil import situation.