Congress may find a way to raise taxes

This article describes the issues of Congress that struck its deal to raise the debt ceiling during the summer. Both Republicans and Democrats are struggling to cope current huge US debt. Republicans have drawn a line to raise of new revenue to help close the deficit, and Democrats are unwilling to support big spending cuts without at least some contribution on the revenue side. For this short period, i believe there is no other way to get enough funding besides raising taxes. Though, it is going to be a difficult situation especially for working people amid an extremely fragile recovery.

Further Information:

http://www.economist.com/blogs/freeexchange/2011/11/supercommittee-flops