.
Sure we can, we're just spending too much. Spending under Clinton averaged 19.6pct of GDP. Under Obama, 24.4 pct.
That the problem.
The Republicans offered (and continue to offer) to cut out deductions, and broaden the base. Paul Ryan was touting that last weekend. Obama, the ideologue, insists on higher marginal rates.
Nope. The Dems raised taxes $60B this last round, plus a bunch of taxes in Obamacare (about $100B, IIRC). The deficit's over a trillion on a cash basis. Over SEVEN trillion if you count incurred liabilities (i.e. future promises made) last year.
$160B a year? That's not even enough to pay for Obamacare, much less the new spending they still want (in their new budget).
For all their bumbling, Republicans have held federal spending roughly flat since the Tea Party elections of 2010.
With Sylvester the Sequester, they've checked spending growth again. That's good for the economy, and it's already creating optimism among business and investors--it's been the buzz of late.
If we actually balanced our books, America would soar.