How do you propose to balance the budget in 2012/2013 without increased revenues? We're talking about a 40% gap between spending and revenue.
If that will all be done with cuts, we will probably go back into recession. It's too big and too fast of a transition to make on a fragile economy. So how do you propose to make that work without upping revenue?
Personally, I would like to see the budget balanced with more gradual cuts combined with the gradual revenue increase. I'm ok with running a slightly unbalanced budget for another year or two in order to prevent a shock to the economy de-railing our recovery. Though of course we should be closing that gap as much as we reasonably can with each successive year.
But if you've got a suggestion for that I'm happy to hear it. Are you open to 2013/2014 as the goal for a completely balanced budget, if progress is being made with every fiscal year?
Other than that slight timing problem, I like it. How I vote will depend on your proposed solution to the above.