Sounds good but doesn't cut the mustard in my view. Future elections will matter very little as I think we have passed the moral and fiscal tipping point. We have over 100% of GDP to debt ratio and that is just the debt on the book... ie doesn't count SS, Medicare and Medicaid. We are running Trillion dollar deficits along with QE3 that is spending over 80 billion a money. Any cuts in government will be down the road and likely not to happen. There is already a growing exodus of American companies and the riches money which will just increase if and when taxes are raised on them.