But as was said before, both will damage growth. That's the price of keeping debt under control. The trick is to find a reasonable, efficient balance between these different goals.
Actually, not so bad. Germany at least. We have much lower debts than the US (which about is on the per capita level as failing Greece), and even unemployment has fallen to the lowest level in 20 years. Now the euro crisis may drag down the abyss along with the bankrupt southern states, but if that happens, it will not be because of higher taxes compared to the US.How are the Europeans economies doing with all those high taxes?