[quote=UCGal]
Folks – this is math. You can’t fix the budget with just cuts. You can’t fix the budget with just taxes. The sequestration (fiscal cliff) combines both. I say lets go over that cliff… Yes, I personally will pay more taxes and yes, I personally will see services I enjoy cut. But it’s not nearly as dire as kicking the can forever.[/quote]
Actually, we can fix it with just cuts.
We could fix it with just tax increases too.
We may not like the macro-economic impacts of those two extremes though as it be like a meth-addict going cold turkey. With a trillion dollar of excess spending in a $15 Trillion dollar economy, cutting a trillion will have shock waves. Similarly, taxing a trillion out will have similar shockwaves.
But overall, slashing services, reducing defense, ending the wars, decreasing social security and expiring the Bush/Obama extended tax cuts are all needed.
Or more simply, let the fiscal cliff happen.
Honestly, the fiscal cliff is probably the best compromise solution the congress is going to come up with today. Both sides have what they think is a gun to the other sides head, which probably means it’s pretty good as all the sacred cows are going to get gored.
