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Our deficit is only 6% of our total economy. That's equivalent to financing a car at only 6% of the total income of a household.

We continue to spend more (about 15%) more than we take in. Every year, the debt grows, now about 7.3 trillion dollars, which we pay interest on every year (now about 175 billion, every with the low interest rates).

My analogy would be we are like a family with credit card debt (US debt) of about five times their yearly income (tax receipts). And each year it gets worse.

The idea of tax cuts are that one would rely less on credit cards and more on their earnings. The 7.3 trillion in debt is from the days of "if you like it buy it now and pay later". Maybe a few more economic classes in school could solve this problem. I am an earnest wage earner but I realize that I can have what I want if I save and spend what I need right now. People who totally rely on credit cards know the risk when it comes to higher interest rate and if they didn't refinance when the rates were low that's their problem. Taxing more doesn't solve that 15% over spending. The interest rates were lowered to give people an opportunity to pay down their debts not just to keep spending. Example; A couple, 2 kids, earning $30k a year has enough to pay their insurance, manditory bills, food and a little extra. Why do they have to have a $25k car when they can buy 2 good used cars at even less than the $25k?