Should taxes be raised to lower the deficit and pay for the stimulus? It’s possible that we will have $3trillion deficits this year.
Taxes were raised after the 2012 election and the deficit shrank massively, without affecting the job and GDP growth trends.
Is it important to pay for these deficits accruing right now, in the future via tax increases? Or, should there be spending cuts? (Noting that the vast majority of the budget is in social security, medicare and defense).
For reference, here is a historical deficit chart: