That's the wrong approach. Charles Krauthammer agrees with me.
Think about what you do with your own household - when faced with financial reverses, do you immediately start looking for a second job?
Instead, you examine what you are currently spending money on, and look for ways to reduce the expense, or to cut it out altogether.
- You stop the newspaper, and start reading it online at work.
- You cut your cable package to the basic, or eliminate it completely.
- You hold off on new expenses.
- You buy cheaper cuts of meat; generic foods; bulk supplies at discount suppliers.
- You completely stop the frills - eating out, entertainment that costs anything, new clothes or furniture. You buy, if you must, secondhand, or "shop" the curb deposits.
Only AFTER you have cut the monthly outgo to the bone do you consider adding income. Your first action is to reduce expenses.
The same procedure should be undertaken by the budget-makers.
That is, if this time they will actually MAKE a budget. Which they haven't in Obama's entire term.