"...combination of tax increases and spending
cuts..."
As of the moment we only have the political appetite for the spending cuts and tax cuts. The tax raises will come later when we realize how far we've bankrupted the social safety net programs, perhaps 10, 20 years from now.
>As of the moment we only have the political appetite for the spending cuts and tax cuts.
if you're about US then it is spending increase and tax cuts. "Spending cuts" in US is just a rhetoric in order to redirect money from some political opponents' programs into political allies' program while overall increasing the spending.
As of the moment we only have the political appetite for the spending cuts and tax cuts. The tax raises will come later when we realize how far we've bankrupted the social safety net programs, perhaps 10, 20 years from now.