Dan Glickman and Frank Keating, both part of the fantastic Bipartisan Policy Center, have an op-ed in The Hill, that I missed a few days ago, that makes some good points on the deficit.
There are no easy answers.
Stabilizing the debt simply by cutting domestic discretionary programs would require eliminating nearly all such spending: veterans’ healthcare, homeland security and law enforcement, education and student aid, roads and bridges, food and drug inspection, and so on.
Taxes are also not a simple answer. Reducing deficits to manageable levels through tax increases on the most well-to-do Americans would require raising the top two tax rates to 86 percent and 91 percent (from the current 33 and 35 percent).
As I’ve said over and over… fixing our fiscal issues will require shared sacrifice by all.