Macroeconomics Dilemma: Cutting Expenses Vs. Increasing Tax Revenue

If you observe all major Federal political parties on both side of the Canada/US boarder, you will immediately see champions of cutting expenses on the right side of the political landscape, and champions of increasing tax revenue on the left side of the political landscape.

Who said these are the only viable options available?

The most viable option these days, especially after the major spending that took place in almost all jurisdictions is to increase the economic value-add activities. This means expanding the economic cycle beyond its current levels. Hint, focus on SMEs Human Capital Development tax incentives.