This is just my opinion, and I hope I’m wrong, but I don’t think I am.
I want to make it clear that I do believe that there is a way out of the looming default and super inflation future, but I do not think that the Dems or the Repubs in Congress will go for it. We can cut a lot but we can not cut enough to avoid the crises; after all, we can not cut the Fed budget by 1/3. And there does have to be a raise in revenue, but I do not believe Repubs are going to allow a rise in the income tax rates. The answer, I believe, is to cut all that we can cut, institute a national 2% sales tax, and eliminate most, if not all, income tax deductions, and institute a lower flat-like individual income tax with only two tax rates, 10% for incomes of $40,000 -$150,000 and 15% for incomes over $150,000. Business and corporate incomes should keep most of their deductions, and maybe have them increased for hiring new U.S. workers. Some reforms need to be made in SS and medicare, too. And Obamacare should be repealed because we can not afford it.