The best way to reduce the federal deficit is through a combination of higher taxes and spending cuts, according to economists recently surveyed by the National Association for Business Economics.
Members of the association said the country needs more fiscal stimulus through 2013. However, by 2014 that stimulus should be throttled back.
A majority of those surveyed favor extending payroll tax cuts, the current marginal income tax rates and the current tax rates for dividends and capital gains for all or most taxpayers through next year.
