How To Balance The Budget

David Brooks shares his view:

My view is data based. The international evidence shows that if youwant to balance the budget, something like 66 percent to 80 percent ofyour effort should go into cutting spending and something like a thirdto a fifth should consist of tax increases. If you rely on taxincreases too much, you end up messing up the incentives for people whosave and invest. Also spending cuts on entitlement programs have beenthe most enduring way to change long term fiscal trends...