The obvious and simple thing to do is stop spending, pet projects and empire expansion. When the average person is in a hole the first thing you do is stop digging, right? So if govt wont do what is cleary neccesary to clean up the books then there must be an alterior motive. Occam`s razor... A broad based effort to smoke the USD, send the general populace into the poorhouse and minimize the long term effects of foreign investment into long bonds via aggressive currency devaluation??? Who knows that the real reason is...but I know what they are unwilling to do.
'The obvious and simple thing to do is stop spending, pet projects and empire expansion.' Agree. It makes more sense to cut spending than to raise taxes.