Just so we're clear, Bowles-Simpson, (endorsed, again, by the President last night) depends on large Social Security cuts, and a redesign of the Social Security system from a social insurance program into a welfare program. SocialSecurityWorks analysis (pdf).
It looks what we have on offer is tough, realistic, painful austerity vs voodoo economics austerity. (Few know that Arthur Laffer was the original underpants gnome.)
