Why America needs to tighten its belt

03/18/2010 | NYTimes.com

Americans need to suck it up, tighten their belts and start paying higher taxes, writes David Leonhardt. Demands for lower taxes and higher public spending are childish, Leonhardt argues: To put the country back on track, we need to resign ourselves to a period of relative austerity in which we pay higher taxes and get less in return. Unless the American people show they're willing to make that kind of sacrifice, he argues, they could soon find their already-battered economy headed over a cliff.

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