Many of the ideas make sense, but the political will to raise taxes, eliminate the mortgage deduction, and tinker with Social Security is simply not there. And for a very good reason - supporting those and other proposals made by the co-chairmen of President Obama's deficit reduction commission would be career suicide. From the NYT's Catherine Rampell:
The problem is that just about every potential solution to the long-term fiscal crisis involves severe short-term political pain, in the form of fewer services or higher taxes. And the people in charge of selling these ideas -- members of Congress -- know that their careers are aligned on the short-term time-frame, not the long-term one. So the question becomes: How do you get politicians elected on a short-term basis to think about the long-term good of the country, given that short-term and the long-term goals appear to be at odds?
Short answer is you don't until a mega-crisis forces everybody's hand.