Both parties are to blame.
We are being taxed at levels from the 1980s. We are spending at levels of 2012. Now that decisive cuts are threatening republican favorite programs like defense contractors and threatening Democratically favored programs like Medicaid a game of chicken has broken out between the two parties.
Look - budget deficits ballooned under Reagan and have gotten worse ever since because we cut taxes and never cut spending. Taxes then rose a bit but not enough to offset increased spending. Clinton (gulp) got closest to a balanced budget (with help from Gingrich and a GOP legislature) but then we had Bush with really big tax cuts and increased spending and off the books wars in Iraq, and AfPakistan which have continued under Obama.
Now we're claiming a fiscal cliff? What a disingenuous term that is to describe bipartisan overspending along with a starve the beast mentality. Neither party wants to admit to past practices being the cause of this and neither party wants to think that their particular economic theories are, or could be wrong.
The best, and quickest way to address this problem is for both to "give". Both need to realize the Social Security is solvent and does not, and can not, by law add to the debt.
All politicians love to spend, and all favor tax cuts because THAT'S what gets them elected - but Americans see through this which is why poll after poll indicates compromise is needed, and desired.
Good grief, when do we get some grown ups in Washington?
It's not about what is best for americans, it's all about the dems outdoing the GOP. Frustrating. But after Bama got re-elected I give up. I doubt I will ever vote for a president again.
I believe the underbending John Bahner is mostly at fault.
I don't understand why they can't see that raising tax rates is relatively the same as removing loopholes and deductions. It's all in how you phrase it. They're both asking for the same thing but in a different way. They ought to do both!
and neither balance the budget. You can't keep increasing spending, even with tax increases, if the total spent each year is more than the total raised. Your 4th grader can tell you that....
They are far from being the same. Loopholes affect only specific groups of taxpayers, depending on the loophole. Raising tax rates ends up affecting everyone, either directly or indirectly.