Originally Posted by patteeu
We can't tax our way out of the deficit. We need to grow our way out of this.
That said, there are cuts that should be made, starting with what remains of the wild spending spree Obama went on when he first took office followed closely by entitlements.
Tax reform should happen too, but we need the opposite kind of tax reform as what Obama wants. He prefers higher rates with targeted tax cuts (aka loopholes) that allow the government to manipulate the economy. Republicans, most rational economists, and the Bowles-Simpson commission prefer lower rates with fewer targeted tax cuts.