The deficit is so large because the taxes are the lowest they've ever been since the 20s. There certainly is such a thing as too much taxes but there's also not enough. If you don't have any taxes at all the State will cease to exist and you get the equivalent of Somalia, the tea party people overlook that neither extremum of taxation produces an optimal result. It's especially funny because they're the same people who think fondly of the high tax eras like the 50s.
And yeah, when gas prices double in two years, we are going to bitch because my income has not increased to compensate. So, instead of taking my wife and child out to dinner a few times a month and giving my money to people who live near me, I have to give it to people who want to kill us all. BTW, that's another TEA Party platform; domestic energy production.
The solution would have been to increase the gas tax gradually over the last twenty years instead of leaving it unchanged since '93. The economy would have adjusted gradually as well (as it did elsewhere). And now that oil's back through the roof (how could anyone have known in the 80s that oil might become expensive? Madness, I say!) the relative increase would have been a lot smaller. In addition roads would be safer with less soccer moms in land battleships.
As for taxes, the Democratic plan is tax the rich that would otherwise invest the money into business that would hire people and to tax large corporations who will simply raise prices on their products that everyone purchases.
Companies charge what the market will bear as long as anti-trust laws are enforced.
Unless, of course, you are GE who owned a media empire friendly to the president. They didn't have to pay taxes.
Yes, the vast left wing conspiracy. The worst part is where Planned Parenthood in conjunction with NAMBLA ensnared Republicans to refuse the elimination of tax loopholes so it would look like they were in the pockets of big business.