de Rugy: "history reveals that the balanced approach generally results in tax increases but rarely delivers on the spending cuts"

http://washingtonexaminer.com/give-spending-cuts-a-chance/article/2514751#.ULtGloNTySp

Opinion: Columnists

Give spending cuts a chance

November 29, 2012 | 10:25 pm | Modified: November 29, 2012 at 10:30 pm

The bottom line is that Obama's "balanced approach" more closely resembles the historic failures -- the fiscal adjustments that don't successfully reduce a nation's debt-to-GDP ratio. What's more, history reveals that the balanced approach generally results in tax increases but rarely delivers on the spending cuts. That's unfortunate, considering that if the government could actually collect $1.6 trillion over 10 years from tax increases, this amount still wouldn't be enough to fill in the projected $6 trillion cumulative deficit over the period.