If cutting taxes means higher deficits, as it has over the last 3+ years, then every dollar in tax cuts does indeed translate to another dollar put on the asian-backed credit cards. I believe that interest on the debt is now the 2nd largest federal outlay. Take a look at the taxes you paid the federal government last year, 30% or so of it went to pay interest on the debt, and the largest holders of U.S. debt are China and Japan.
Cutting taxes does not mean higher deficits. Spending more makes higher deficits. Perhaps if we eliminate a couple of departments and RIF a couple hundred thousand Federal freeloaders we could cut down the deficit and provide a ready source of labor to displace the immigrants now flooding the nation.
What have you been smoking? Tax cuts always increase revenues! It frees up more disposeable income for citizens to spend and invest thereby stimulating the economy.
Read this
...and this
...and this
Cutting taxes also does not necessarily translate into lower tax revenues, something that was demonstrated during the 1980's.