Because how else do you explain this, from Obama's morning presser:
The "shared sacrifice" and "balanced approach" means taking down domestic spending to levels we haven't seen since Eisenhower...Here's the thing: if you want to reduce domestic spending to the level of the Eisenhower era, remember what the rich paid in taxes during that time, which was 91%, and 25% on capital gains. And remember, that high level of taxation supported and grew (grew!) a nation of a much smaller a population (less than 179 million then compared to more than 308 million in 2010), with many fewer needs and a shorter lifespan; fewer cars, and houses, and schools, and less need for infrastructure. And remember how much newer our sewers were, and our water treatment plants, and bridges, and dams, and roads, and prisons, and gaslines, and waterlines, and electrical lines, and how much further away from failing they were then.
We had money pouring in, and a lot less to spend it on, but somehow these geniuses think we can dial back spending by more than half a century AND stifle revenue, even though we're not even taking in as much total direct revenue now as we were when Dubya took office, and income taxes are producing half of what they did then. These magical thinkers really believe that if we give up our 2008 Honda Accord for an old '53 Hudson our grandfather used to own way back when, we can conjure up the Frank Capra-corn lifestyle none of us had in 1950 and all live in a Lassie episode forever. Things cost money! Things now cost more than they did 10 years ago, let alone when Ike was President. It's beyond ridiculous to insist that we can go backward in time and take our checkbooks with us. But this is exactly what these morons have been pretending we can do, and if it means those suffering or living on a knife edge now are going to have to tighten their belts, well, hell, why not? It's not as if any of these dimwits pushing this ceremonial economic magic will ever have to bear the brunt of their own stupidity.