Well first of all you can trace our current fiscal problems back to Alexander Hamilton. The current automatic cuts will only slow the rate of growth. We may to need to raise taxes, however FIRST cut spending & get out of the way of private sector job creation. Government jobs are nice but the taxes they pay come out of the treasury, a rather obscene vicious circle.
Oh yah, real spending cuts don’t happen 5 or ten years down the road, they go into effect before the tax raises.