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America Needs a Turnaround Plan

There is a kernel of wisdom in this article - the US cannot afford continual massive deficit spending. Tax revenues must match government spending so the public sector is not a massive competitor for credit. The Clinton administration managed to do it, and the result was a the longest continuous period of economic growth in US history.

Also - those who think that increasing tax rates won't increase revenues are smoking crack. There are any number of studies that show that the Reagan tax cuts DECREASED overall tax revenue, and the increase in tax revenues during the Bush years is due to higher effective tax rates on the middle class due to inflationary bracket creep and increased rates on corporations.