I don't really see why we have to raise taxes
All we have to do is reduce the size of government, by a lot.
With all due respect, man, it's all defense, Social Security, Medicare, and unemployment at this point. The last 2012 budget I saw, those four things were 2.52 trillion dollars, and revenue was $2.6 million.
Maybe my thoughts on what constitutes the size of government differ from the next guy, but when I think of the 'size' of government, I think of a lot of discretionary programs, and that's pretty much $800 billion. There's some you can shave off of that, but really, a lot of it is infrastructure, education, agriculture, etc. You can cut funds from the NEA, EPA, National Parks, etc., if that's what a person finds extraneous, but that's a drop in the bucket.
Honestly, everything has to be put back on the table. Military spending, entitlements, taxes, discretionary spending...everything. If we really want to cut into the debt, we can use the Clinton method of cut a dollar, earn a dollar in revenues. That will get you there twice as fast.
In down economic times, the government can be a driver. Rebuilding infrastructure puts people back to work. Investing in education can be a driver for innovation. Incentives to get people to invest in real estate can help prop up and cause recovery for that sector. Government, if used properly, can drive positive outcomes. However, it relies on the right people with the right motivations to make it function properly.
Personally, I'm growing fond of the idea of term limits for Congress. I believe wholeheartedly in a complete restructuring of campaign finance. I believe in abolishing PACs and diminishing the power of lobbyists. If we want to change Washington, we need to really change Washington. The way to fix government is to make it about service and nothing more.
Anyway, I'm moving off topic, but the root cause of the problem is that the system is broken. Fix the system, fix the debt. Everything we do to resolve the debt without actually changing how Washington operates is just a band aid.