Bill Clinton Warns Against Further Cuts During Fragile Recovery

The 42nd president laid out the way he would reduce the deficit if he were sitting in the Oval Office. He would adopt a long-term approach to balancing the budget, with spending cuts and tax increases not kicking in until the country has "a little more economic growth."

"If we cut too much right now, there's a real chance, this may be counterintuitive, we could make the deficit even bigger because the revenues would drop even more than the spending would be cut," he said.
http://www.myfoxphoenix.com/dpps/news/clinton-warns-against-further-cuts-during-fragile-recovery-dpgonc-20110803-kh_14421237