To reduce deficit spending and our enormous debt you reign in spending. You cut the budget. You don't take more from the private sector and grow government with it. And that's exactly what Obama has in mind with this expiration of Bush tax cuts proposal of his.
Many people around the President have sizeable egos before entering government some with good reason. Their new positions will do little to moderate their egos.
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Americans chose a limited government that exists to protect our rights not to grant them.