The current spending and budget battle in Congress is driven mostly by the divide between the left and right on taxes and spending. The President and his supporters insist on raising taxes, on the so-called wealthy and on certain industries. In fact, taxes have recently been raised both in terms of tax rates and by limiting deductions and exclusions that have not received much publicity.
But all this is a ruse. The idea is to convince the middle class that only one party is on their side and that if the wealthy would only pay their fair share, all will be well and the middle class will be free to enjoy their existing benefits and even more in the future.
The fact is that no matter who is president, the Congress finds a way to spend tax (revenue) increases and more. The reality is that as taxes are raised along with it federal revenue, that money will not be used to reduce the deficit, but will be spent. In fact, history tells us that Congress will spend more than the amount of the new revenue thereby adding to a deficit.
In addition to the fallacy of taxes and spending, there is the matter of actually dealing with the deficit and how. The truth is that there is no way of managing our debts without direct involvement by the great American middle class . . . and politicians who tell you differently are reprehensible, fools or simply liars in the interest of pure political gain.