Too much going toward entitlement programs, over-burdened retirement funds etc.
What happens there is the state runs out of someone else's money. The dems believe it's time to squeeze the taxpayer unit for more to pay for domestic entitlement programs and over-burdened retirement funds etc. Revenue isn't the problem, spending is.
If the US doesn't learn by seeing what's going on in Europe, Greece in particular, then we'll go under right along with them.
Spending our way to prosperity didn't work, never could. It's like pushing a dead car around the block... gives the feeling of "moving forward" but once the pushing stops so does the car. All the spending did was delay the inevitable. Thing is, now we're in debt even more due to that failed spending ploy and are now facing the inevitable... reducing spending... austerity is the word perhaps.
But even that is bearable. My personal economy has collapsed twice in my life and I'm still here none the worse for wear. It's a bit tough, oh yes, but I don't fear it, I'm not anxious about it since I've been there and got through it all. Besides, gaining Christ along the way is about all the prosperity I could hope for. And nobody, not even Obama or Pelosi, has any influence on that what-so-ever. ;)