Fred-that’s about as serious as “Build the fence first.”
Let me guess where this new spending being proposed will go:
Section 8 Housing
Student Loan forgiveness
The goal is to turn the US into a socialist welfare state, and we’re well on our way.
In this case, the money has either been spent or not spent. Cutting is both a necessary and sufficient condition for the tax hike. In fact, go farther: add a tax pentalty for liberals. For every $1 increase in spending in 2013, there will be an additional $1 is tax cuts in 2014.
Spending has to be cut first. There is no way to tax our way out of this.