President Obama has offered a plan with 4 trillion dollars in debt reduction over a decade with two and a half dollars of spending reductions for every one dollar of revenue increases and tight controls on future spending. It's the kind of balanced approach proposed by the bipartisan Simpson-Bowles commission.
Here's how I think of my money - as soldiers - I send them out to war everyday. I want them to take prisoners and come home so there's more of them.