Rising tax rates exaggerate the problem, Mr. Levinson said.
Mr. Knightley said that a rising tax burden could dent already fragile household confidence.
Taxpayers are split between those who want cuts and those who hope that rising tax receipts might bring easier choices.
In response to rising tax competition from other EU nations, Germany is cutting its corporate tax rates.
Here, lawmakers, Republicans and Democrats alike, approved caps in 2008 amid a public outcry over rising tax bills.
School budgets, though largely protected in this spending review, are already under severe pressure from rising tax and pension costs.
Helped by a surging local economy, state aid and rising tax revenues, the city government, with a $500 million surplus, rehired workers and restored many municipal services.
"However, public sector net debt has increased by £86.1bn compared with a year ago, and rising tax receipts alone won't eliminate the deficit.
Greeks are already reeling under the weight of a five-year recession, a rising tax burden and the euro zone's highest unemployment rate.
And with some heroic assumptions about future growth and rising tax revenue, you can get the numbers to add up.This is where Greece's experience warrants study.
Assuming the economy resumes growing, future deficits will be lower simply because of rising tax revenues, lower safety-net spending and the end of the temporary stimulus programs.
