I have to agree with IPSC (as usual). He's pretty smart for a lawyer.
Obama and the Dems only seem to see one side of this problem which is extremely short-sighted. They want to raise taxes so we will have more money to pay for all of the spending increases they want to continue.
It's kind of like a teenager that maxes out his/her credit card, can't pay the bill and then wants to get an increased debt limit. At some point, that strategy crashes and they are mired in debt and often looking towards bankruptcy to "fix" their problem.
Just like that teenager, Obama (and the Dems) don't appear to want to cut their spending down to their income level (or preferably below the income level).
As my ole man used to say, they've got champagne taste on a beer budget. (Note to self--I really don't like champagne [blechhh] and need to find a different saying.