Bush is going to raise taxes after the election anyways.
At this point, either a tax increase or a spending cut is a foregone conclusion, if we want to avoid becoming Argentina II: Revenge of the Peso. Given the screaming that the special interest groups are giving these days about cutbacks to their entitlements, I don't see him cutting spending much.
Given his past behavior, I can't see Bush raising taxes on the people who can afford it - he'll mainly target the little guys, like you 'n me. At least with Kerry, we might see some smearing around of the pain, although I'm not too happy with his cut in the corporate tax rate.
