I'll start, because I'm sure Jack will.... I'll give a very quick answer and Jack will give the right answer.
I certainly agree with the growth. That's something I emphasized came after World World II. The lesson there was that by far the easiest way to deal with these problems is always economic growth. We should focus on that. We spent a lot time in the last decade arguing about inequality and income distribution. We ignored income creation. I think, more than ever, we need to get back to that.
The other thing I'll mention is, as I said, a lot of studies have shown that in reducing the deficit spending, cuts are preferred to tax hikes, especially because of the stimulative effect it gives to business investment.