It is simply not economically feasible to cut the US deficit without raising taxes, given that Americans are enjoying their lowest tax burden since 1958.
It\’s politics, not economics, which is the problem here.
You can cut the US deficit quite easily purely through spending cuts. In an economic sense that is. Get shot of the ethanol nonsense, tear up the Farm Bill, stick every federal pension into a 401(k), stick every federal health plan into these new fangled \”insurance exchanges\” and so on.
In economic terms, a piece of piss actually.
It\’s that such actions are politically impossible that is the problem.