Tim —

You say, “I am not making a case for austerity I am making the case for raising taxes. … I am a fiscal conservative deficit hawk who want the government funded at a level that it can do what needs to be done and to do that well.”

Well said. Sustainable debts and deficits are possible if we are willing to cut with both blades of the scissors — outlays and revenues, and if we pursue appropriate countercyclical policies within a framework that adjusts deficits to appropriate targets on average over the business cycle.

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