I think the BIGGEST PART of the problem is that otherwise conservative people, many on this site, are more than happy to see this country go broke, as long as their precious Social Security and Medicare don’t get touched (even if all of the money they paid in was spent decades ago by the people they collectively elected).
Many, of not most, of these people have enough money to be able to live on less handouts from the government and/or live on money from their kids, but simply will not accept those options, as it means that their gold-plated Winnebego might have to be 32 feet long, rather than 40 feet long (or living in an apartment, rather than a 5-bedroom house).
Their priorities are as follows:
1) Never, ever, touch their ‘entitlements’, NEVER!!!
2) Cut spending somewhere else, anywhere else, foreign aid, food stamps, National Endowment for the Arts, etc.
3) Let the country go broke, if spending cannot be cut
These are the priorities of half of the older conservatives on THIS SITE. The priorities of the liberals are similar, except they also want to keep #2. Given that, entitlements simply will NEVER get reduced enough to matter.
So what are the options:
1) Turn into Greece (actually much worse) and watch Mexico zoom by us economically.
2) Raise taxes now on the middle and lower classes (i.e., people that cannot easily evade taxes) to pay for this garbage. If people DEMAND a $4T government, then they need to pay for it.
I prefer Option 2, since I have kids, but most conservatives seem to prefer Option 1.
Former President Ronald Reagan tried this approach. He shook hands on the deal which never came to be. Once upon a time a handshake was a person's bond to an agreement and those shaking hands would not go any other way than to cause that handshake agreement to be. The handshake and pat on the back is currently a what or why do I care (maybe) and everyone is on their own. Cannot trust anyone anymore. Attorneys love that. Our nation's people no longer think about surviving, instead we enjoy our conveniences and think not what would happen if they were suddenly and swiftly taken away. If it should happen the old and the very young would suffer in the extreme. We (as a nation) may be headed in this direction to raise taxes. Most appear to agree (those in power) it is the best way Forward. Forward ... there is that word again. Good Luck to all of us!
It seems to me number 2 is not too bright as a solution for too much spending by government. Just take a look at the democrats number one congressional talking point on the economy that they cannot live without, the “increasing revenues” ploy/scam. Can you imagine what more money to a free spending congress would mean?
My number one would be an instant 10 percent cut across the board first year, that means everything, positions people budgets, you name it, including SS and medicare, followed by 10 percent each of the next four years, and no tax or fee increases whatsoever. At the end of four years of real cuts, evaluate how long it will take to get to a balanced economy and budget with zero debt and continue accordingly.
One other major issue is one you mentioned in number 2 option. EVERYONE needs to be paying Federal taxes no exception. That alone would increase revenues and would have to satisfy the greedy democrats who don’t seem to give a hoot about the future of the Republic. Methinks they just may rue the day we turn into Mexico.