Earlier quoted context omitted.
Even taxing the rich won't solve the deficit, at all. However, taxing the middle class to fund all the various social programs people want is political suicide. So we are stuck here.
It's going to have to be pain all around, I'm afraid. We are going to have to cut spending, a lot. And even if we eliminated discretionary spending, we'd still have a deficit. The remainder is going to have to come from a combination of cutting non-discretionary spending and taxes. Then you just have to hope that you can grow your way out of the problem. We spent a very long time getting ourselves into this position…
After all those points orders have mentioned the only thing left it is devaluations of the dollar, that’s what many have said it will be the only viable solution since now it is out of control. I’m not sure if we can do that now, spending needs to get under control before devaluation works. Either way middle class is the one getting destroyed.