June 2 (Reuters) - Republicans in the U.S. Congress have ruled out tax increases as part of any negotiation on attacking budget deficits that are forecast to hit $1.4 trillion this year alone.
Their mantra is "We don't have a revenue problem, we have a spending problem." In other words, slash spending, don't raise taxes.
Democrats counter that the federal budget cannot be balanced on the backs of the poor and middle class through steep cuts in federal spending on healthcare, education, nutrition and other programs. In other words, raise taxes on the rich.
Their mantra is "We don't have a revenue problem, we have a spending problem." In other words, slash spending, don't raise taxes.
Democrats counter that the federal budget cannot be balanced on the backs of the poor and middle class through steep cuts in federal spending on healthcare, education, nutrition and other programs. In other words, raise taxes on the rich.
