Well, for the first time Obama appears to be doing more than just talking about cutting spending. This article in AccountingToday by Roger Runningen and Heidi Przybyla Bloomberg gives some details:
http://www.accountingtoday.com/news/Obama-Budget-Include-Tax-Bracket-Changes-66277-1.html?ET=webcpa:e6930:204199a:&st=email
You can’t continuously raise revenue and borrow all the time. At some point some cuts have to be made!
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