42 Presidents accumulated 5 Trillion while 43 and 44 were able to triple the debt in 12 years with no end in sight. Something has to give here and while taxing the rich may "help" it is certainly not enough nor do I agree with an increase in taxes without reduction in spending.
Slayer and rvga: I agree, it will definitely require spending cuts, together with tax increases, to close the $1.2 trillion annual federal budget deficit ($2.5 trillion in tax revs vs $3.7 trillion in spending).
That gap's just too big to be solved with only one or the other of spending cuts and tax hikes. Both painful decisions are required.
Cut the spending- 1. We have inflated Defense Budget
2. Import drugs from other countries and let people on Medicare, Medicaid.
Tricare and Veterans. Open up the system for people to choose Govt sponsored health care or keep your private insurance if you can afford.