There are three ways to deal with a deficit:

1) reduce spending
2) increase revenues
3) both

Put me in the camp for number 1. I have a real hard time shelling out more money until the every cutback possible has been made. If I loan my brother-in-law money to pay his rent and he goes out and buys a laptop with it, why the hell would I give him more when he asks for more? Show me you are being RESPONSIBLE with the money you already have, then you can ask for more. It's a really easy concept.