Washington Democrats have been insistent about this: They will cut spending only if
Republicans agree to give them an equal amount in new revenue.
That's taxes to you.
Bill Wilson, a member of the board of Americans for Limited Government, points out gently that the people may not like this "more revenue" idea.
They're still feeling the strain of the Great Recession.
About 71 percent of the $16 trillion U.S. Gross Domestic Product is the result of Americans' personal consumption.
There are signs that U.S. households are cutting back:
* Consumption spending ebbed in April by $20.5 billion, the Bureau of Economic Analysis reported. It was only a 0.2 percent drop, but it's a caution flag.
* Personal income also declined by 0.1 percent in April.