Neither party has tried for the cuts that are needed, but the GOP is the lesser of the evils by far. The Dems will go 10 billion less than current spending levels, the GOP wants 61 billion. Neither is nearly enough.
Here's a couple of links backing up what I say, one from the left and one from the right.
http://www.huffingtonpost.com/2011/0..._n_831937.html
http://online.wsj.com/article/SB1000...480567882.html
Tax increases on anyone be they rich or poor is not necessary. The federal government already collects taxes on almost everything, especially income, and they have no business collecting more. America is T axed E nough A lready.
The federal government needs to start eliminating entire departments. Every silly axed czar of anything and their staffs need to be gone. Homeland Security...gone. Dept of Education...gone. Some other major agencies and hundreds of smaller duplicitous agencies...gone. Foreign aid handouts...gone. Obamacare...gone. Lobbyists, be they right, left, or in the middle...gone. Cut the pay of federal government employees (averaging over 100k a year right now) by 20%, and have them pay for benefits like the rest if us do.
Maybe I sound like some kind of a wingnut, but if an average citizen handled money like OUR government, they'd be bankrupt in 3 months.