Tax Cuts and the National Debt

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Raising taxes has been anathema in Washington for 30 years, but the national debt has raised fears across the political spectrum. Are Americans willing to pay more? How important is fairness? Also, Standard & Poor's lowers its outlook on the US, and no naps for air traffic controllers.

Banner image: Elizabeth Krasovitov, dressed as the Statue of Liberty, advertises for a tax preparation office on April 14, 2011 in San Francisco, California. Photo: Justin Sullivan/Getty Images