NO HEAVY LIFTING REQUIRED:

Nouriel Roubini On The One Big Reason To Be OPTIMISTIC About The National Debt (Joe Weisenthal, Apr. 20, 2011, 2011, Business Insider)

In a note this morning that he put [out] with fellow analyst Arnab Das, [Nouriel Roubini] writes:

The United States has the most manageable fiscal issues of any major advanced economy because federal, state and local revenues as a share of GDP are very low, for cyclical and other reasons. Therefore, fiscal balance can be restored by fiscal adjustment without major economic difficulty in the near term.

In other words, US revenue and spending can be brought closer into line via raising more revenue (as a share of GDP) and so in reality this means raising taxes.

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