Originally Posted by DieselDiner
Does he mean "balanced" between revenue increases (tax increases) and program costs cutting, rather than what you've described?
Yes, you nailed it. It's a pretty simple concept, really and both sides agree that solving the debt crises and balancing the budget will require BOTH spending cuts and increasing revenue. This was the recommendation of the much heralded Simpson Bowles commission plan.
Pretty straight forward. Not sure what all the fuss is about.