When it comes down to it, the only way we will ever dig ourselves out of this trillions of dollars defecit is by doing MAJOR spending cuts, along with TAXES hikes on the wealthy making 250,000 or more.
Americans i think are still a little unwilling to accept the fact that we, as a country, are in a huge mess right now. Its going to take major sacrifice on both ends to make this possible, and that includes Social Security and Medicare reform. Government is going to have to find a way to provide government healthcare facilities to treat the poor and some middle class. The rich of course will have the option to have "better" costly medical care through private insurance sectors.
As for this no-tax-pledge the GOP stands on, it will not work. At some point taxes must be raised, which will increase the amount of the jobs available. It will pretty much do the exact opposite of what they say. When you tax the rich, they create jobs. When you give them tax cuts, they dont create jobs. The GOP uses this lie to protect their investors and employers. Stupid Americans fall for this, thinking tax increases directly affect them, but actually only affect the top 2% of America.
RealClearPolitics - The Failure of Obama's Stimulus
The political failure of Obama’s stimulus package : The New Yorker
Those that pushed it made absolute claims for what it would do. It did nothing of the sort. That's the definition of failure. That it failed (which wasn't hard to predict) is a part of the reason we are were we are at today.
Oops...This wouldn’t be surprising if we were talking about a failed program. But, by any reasonable measure, the $800-billion stimulus package that Congress passed in the winter of 2009 was a clear, if limited, success. The Congressional Budget Office estimates that it reduced unemployment by somewhere between 0.8 and 1.7 per cent in recent months. Economists at various Wall Street houses suggest that it boosted G.D.P. by more than two per cent. And a recent study by Mark Zandi and Alan Blinder, economists from, respectively, Moody’s and Princeton, argues that, in the absence of the stimulus, unemployment would have risen above eleven per cent and that G.D.P. would have been almost half a trillion dollars lower. The weight of the evidence suggests that fiscal policy softened the impact of the recession, boosting demand, creating jobs, and helping the economy start growing again. What’s more, it did so without any of the negative effects that deficit spending can entail: interest rates remain at remarkably low levels, and government borrowing didn’t crowd out private investment.