The Deficit and Weight
In some ways, the deficit is analogous to being overweight. In the case of the deficit, we have too much debt that results either from too much spending or too little income (or both). In the case of being overweight, one has too much fat that results from consuming too much or exercising too little (or both).
As with being overweight, the deficit has a simple solution. In the case of being overweight, the simple solution is to intake fewer calories and expend more calories. Or, crudely put, eat less and exercise more. It is possible to do just one (eat less or exercise more), but this would be less effective.
In the case of the deficit, the simple solution is to intake more money or expend less (or both). Or, crudely put, tax more and spend less. Of course, it is possible to take just one approach: tax more or spend less. Of course, as with the matter of weight, this would presumably be less effective. It can, however, be argued that it is more desirable to take one approach rather than the other. For example, a stereotypical conservative might argue that spending should be cut without there being any increase in taxes. As another example, a stereotypical liberal might argue that there should be tax increases without any decrease in spending.
My view is that it makes excellent sense to approach the deficit by reducing spending and also increasing revenue. Just as with weight loss, this should be done in a sensible manner. In this case, by cutting excess spending and requiring people (and corporations are people) to bear a fair share of the burden of public services (such as fighting wars for the strategic interests of American businesses).