This has always been the GOP's strategy:

1) Cut taxes for the wealthy & corporations by claiming they'll pay for themselves.

2) Explode the deficit.

3) Demand cuts to Social Security and Medicare.

4) Repeat.

Don't let them get away with it.

@rbreich European leftish strategy:
When times are good tax the rich and loan money to finance the welfare state
When times are bad tax the rich and loan money to finance the welfare state
Repeat until voted out of power or losing credit worthiness and net tax payers

Both this and the gop strategy are the way to disaster