In a NY Times article, "Republicans’ Deficit-Cut Pledge Lacks Specifics," David Leonhardt provides a level headed assessment of various Republican deficit cutting schemes. Some of which include phasing out Social Security, or raising the eligibility age, and modifying Medicare to become a voucher program with caps on benefits. All include tax cuts for rich people, and increased health care, transportation, energy expenses -- effectively, tax increases -- for middle-class and poor people.
The Republican Party does not have middle-class interests at heart. They are bought and paid for by corporations who seek fewer regulations that limit financial exploitation of the middle class and poor, and destruction of public land, water, and air for private profit. If you consider yourself middle-class or impoverished, the Republican Party is playing you for a fool.