should we cut spending or raise taxes?

1. Repeal BFD O'Bamacare.

2. Cut spending.

3. Our corporate taxes are the highest in the world. Cut corporate taxes but also do away with most of the deductions.

4. Cut every ones taxes but do away with most of the deductions.

5. Make the Democrats pass a budget. They haven't passed one in 3 years.

6. Once there is a budget go through it line by line like O'Bama promised and cut waste and fraud.

First how about we open government agencies themselves to the IRS and SEC. We need to decouple our watchdogs from our bureaucrats. It is the only way to keep both honest and the only way to protect the treasury from big business tape worms that, in my opinion, cause the taxpayer so much expense. The IRS needs to send me a detailed receipt in a free market society. This common sense restructure (again in my opinion) could improve our debt to earning at least 20% within two years and in half within 20. And the world would be a better place. It would set the example for US business.

The other thing you guys need to take into account is that this is bank debt. And America is always a top 3 biggest lender on the planet Earth. We hold arguably 200 trillion+(?) in assets and a 14.9 trillion dollar gdp. People freaking out about the debt need to stop and think about how a loan works. The USA is a very strong borrower and it is the bank. This is finance. Create debt and use it as leverage. US treasury bond holders are still assuming far less risk than JP Morgan stock holders.

So basically both solutions you present are self defeating until we can become way more honest and transparent.

Raise taxes.

Presently government spending is what is driving the recovery and preventing Depression.

Private industry is sitting on massive amounts of capital they refuse to invest,hoping for a "favorable" tax/regulatory policy administration.

Banks get money from the Fed at 0% and lends it out from 4-23 % (mortgages and credit cards).

ANYBODY can make money doing that ,yet Chase lost 2 billion dollars and can't explain it.

Explain the $25 million bonus the CEO was paid then.

"Government spending" has become a cudgel like the word "liberal" to club the opposition.

Government spending does NOT profit the government.

Rich people do not create jobs.

Customers create jobs.

Customers for goods and services.

In a time of severe recession,near depression the government as customer is the steady consumer with a good record of paying that keeps business going.

Government buys almost everything,directly or indirectly via subsidy.

Keep that in mind when "Cut government spending" seems like the answer when nobody else is buying or building or hiring .

If we cut spending and raise taxes at a time of sluggish economic growth & high unemployment, we'll probably push the US economy back into a full-blown recession.

Capitalist markets, to function, bring together two economic factors: SUPPLY and DEMAND. If demand is greater than supply, the market gets into trouble, and generally we have inflation.

But when supply is greater than demand, the market gets into trouble another way, and we have -- guess what? -- high unemployment and sluggish economic growth.

The fact that we have high unemployment and sluggish growth is a strong sign that right now, supply in the US economy is much greater than demand, which is deficient.

If the government both cuts spending, thus removing federal dollars from the markets, and raises taxes, which means it will be extracting private money from the market to put into the US Treasury, then the government will be further reducing potential economic demand -- twice.

This will make our current economic problems worse.

Most mainstream economists, and certainly most liberal economists, agree that we first need to stimulate the economy to grow & recover to a more prosperous condition. Then, once conditions are better, both corporations and individuals will be earning more income, Uncle Sam will receive greater tax revenues, and government spending on emergency social programs -- e.g. food stamps, unemployment compensation -- will shrink in volume.

THEN -- when the economy is more prosperous -- when government tax revenues have risen, and government expenditures on jobless benefits and food stamps have fallen -- THEN will be the time to start reducing the US national debt.

Trying to reduce the debt now, however, will be self-defeating. If it pushes the economy back into a full recession, reducing tax revenues, the government's debt problem will probably become bigger than it is today.

Did you know that this month, the government is running a surplus? And what are you snorting to come up with 172 new government agencies? And did you know the government is per capita smaller than it's ever been?

No, don't let the facts bother you. They're obviously not true.

Bob G, you are in error, the US currently has wealth over 50 trillion dollars. It would be possible to immediately write off the debt if it were desired.

It's not, but still, the current deficit is less than GDP, so there's no reason it couldn't be readjusted.

i ought to a lot favor to have spending cuts, yet i'm prepared to entertain the concept of a few tax will develop (or ideally reforms). My one best criticism of Obama became no longer getting behind the Simpson-Bowles concept. This had a blend of restructuring taxes by utilizing reducing charges and reducing loopholes, and it also had countless spending cuts and reforms. In his established cowardice, Obama in reality stabbed his own fee interior the back. They did the exertions of negotiation and compromise, and he positioned their concept in a table to rot.

Here is MY Offer to Democrats to start fixing our Financial Problems

I'll start the Negotiation with a 25% Cut in Defense Spending? OKAY, you got it....that Saves us $219 Billion Next year (based on 2011 spending).....that is about 1.5 Months’ worth of BORROWING that we do for spending on Social Programs....

That still leaves us $1.1 Trillion in DEBT for 2013.

What can we, Republicans have in RETURN?

How about 10% Reduction in Spending on the BIG Ticket Items (see list below) in return?

We'll give you 25% if you'll give us back 10%?

That is how COMPROMISE Works.

Democrats Scream that we won't just DO What they want, but their Idea of Compromise is, "DO WHAT WE WANT." Anything else is Obstructionism to the Left

Please, just find 10% worth of WASTE to cut from each of the Following:

Healthcare: $858.2 Billion (Cut $80 Billion from 2013)

Pensions: $775.6 Billion (Cut $70 Billion from 2013)

Welfare: $472.9 Billion (Cut $45 Billion from 2013)

Education: $113.7 Billion (Cut $10 Billion from 2013)

Transportation: $93 Billion (don't cut it)

Other: $96.3 Billion (what is OTHER? If we can't even LIST what it is we are spending, maybe we could just cut it all?)

INTEREST PAYMENT on the DEBT: $230 Billion (can't cut it.)

That is $205 Billion worth of CUTS to Democrats Social Spending and we offer $219 Billion in Defense Spending Cuts, plus dropping the $96 Billion that they can't even put into a Category....that is OVER $0.5 Trillion LESS Spent next year than proposed by Mr. Obama's 2013 Budget Plan. And NO ONE has to Die or Starve to Accomplish it.

Sound fair?

I'll do the Left one better......I'll agree to those DEFENSE CUTS I offered, if they will AGREE to just NOT Increase spending on Social Items for 2013 over what we spend THIS Year.

They don't even have to CUT in 2013....JUST Stop Increasing?

And in the Spirit of Compromise....I will OFFER Re-establishing ALL Tax Rates to Pre-Bush Rates. That is 4% MORE Revenue per year, about $175,000,000,000 MORE in the Coffers, Reducing our 2013 Deficit from $1.3 Trillion Original Projections to about $625 BILLION more Debt......

We could let that mellow a bit, for about 5 years, then do it ALL Over again (25% and 10% Cuts- BUT without Further Growth in Spending) and CREATE a SURPLUS to start paying down the $20 Trillion Public Debt we will have by then.

That's my idea....Probably a lot more INFO than you wanted and wouldn't BLAME you if you just ignore it. I know the Democrats will. Although I'd WELCOME Their Input and Cooperation in making it a Workable PLAN.

Raise taxes (mostly for wealthy, give less tax benefits to corporations), readjust spending (cut military, add spending to social safety nets, NASA, Small Business Administration, and others). Ideally there would be no deficit and a healthy surplus to help pay off the countries debt.

Lower the kinds of taxes that INCREASE revenue, like Capital gains., NOT the one that will bankrupt Social Security.

And Cut spending like CRAZY.

Of course, Lowering Capital Gains WILL stimulate the economy to where we will not have to really Cut Entitlements all that much. They will cut themselves when people who are now on unemployment and food stamps get JOBS.

Raise the taxes on the rich to Eisenhower rates. You WILL see jobs come back to the US and more taxes being paid by a STRONG middle class.