Too dead on. Reagan cut taxes and the democrats then in charge of Congress reneged on their promise to cut spending. W cut taxes then got us into a war or two and then did Medicare plan D. Of course the democrats will never cut taxes unless it’s the so called Earned income Tax Credit which is just spending in disguise. Hell they even call no net growth above inflation a cut. There is no such thing as a deficit hawk anymore. The republicans have the spending flu as bad as the democrats. They just spend it on their constituents. It really comes down to two issues. First is the debt. How big will our creditors allow it to grow and long can we carry it. The $20 trillion number is only part of the real debt. We have unfunded liabilities in Social Security and other pension obligations that may double it soon. At this time we are and the dollar is the only place the world sees as secure. They will buy our debt as long as they see no better option. The second issue and only potential path to reduce the first is through growth in the economy. The economy needs to grow at at least a 3% rate to sustain or reduce the growth of the deficit and debt. This is what made the Gingrich program (that Clinton took and received credit for) erase the deficit in the 90’s. To get this we need to spend massively on infrastructure and encourage population growth.......mainly through immigration. Barring a major upheaval in technology such as happened in the 90’s that is the only path that will give us a chance.