Mr. President, we agree that the current tax revenue is definitely not covering the spending, and there is a need to make adjustments. I propose that we make a deal in which I will accept a moderate across-the-board tax increase.
Here’s the deal: The spending must be absolutely capped to prevent additional increases. Government spending needs to be directed to actual constitutional requirements. When this is done and in place, I will not only accept but will campaign for a moderate tax increase directed specifically to wiping out the debt.
It is totally irresponsible to not curb spending, and it is impossible to balance the budget with taxes alone.