The real problem is that the “government spending” component of the GDP exceeds government revenues by about a trillion dollars. That’s every year. This means that our GDP is artificially inflated by about one trillion dollars. Make any cuts, which we need to do, and the GDP goes down. That can have serious economic impacts in the short term. In the long term, it solves a great many problems, however.
But liberals won’t let those problems get solved. They won’t let them get solved because too many of their constituents rely on that extra billion dollars of funny money we are spending every year. And we all know what angry liberals do when they don’t get what they feel they are entitled to. Just remember the Occupy Wall Street crowd and those rioting loons over in Greece if you need a refresher.
So instead, liberals pretend that taxing certain Americans will make everything alright. And they will kick and scream all the way over the “fiscal cliff” if they don’t get their precious class warfare codified. President Obama rants and raves about the need for a “balanced approach” to our problems. What he means, of course, is that unless he gets tax increases on certain people, those he has deemed to be evil, he will throw a tantrum the size of which America has never seen.