When asked by Mitch Ohnstad why he robbed banks Willy Sutton replied "because that's where the money is." There is no money to be found with spending cuts. There is no money to be found in the earnings of anyone in the middle or lower classes. There is no money to be found in medium sized or small corporations. If Willy Sutton was alive today then he would rob the rich people and the large corporations because "that's where the money is."
Everyone who owns or is about to buy US bonds knows the rich have the money and that unless the rich are taxed at higher rates then there will come a time when those bonds will not be honored. Cutting spending, except at the margins, will make the deficit worse. Unless taxes are raised on the wealthy and spending to create jobs for the lower and middle class is increased, the bonds over the long term will not be honored and there will be economic disaster.
No matter what wishful thinking Grover Norquist, the tea party members (I cannot bring myself to call them patriots), or the politicians in the republican party wish the rich have the money and unless they are taxed then there is no money. Of course the Fed can create more money, but there is a danger that would lead to inflation. Worse money created by the Fed goes to the banks who do not see investment in the US as a wise course of action.
That leaves us with tax the rich "because that's where the money is."