I think that the smart thing to do is to pass the tax cuts before they expire in Dec. That way they can expire in 2012, that would buy time to come up with tax cut programs that promote hiring of new empoyees in businesses.
These programs will not be tax breaks like this bill that is going to be passed, but instead would be things like persay, a $1000.00 tax break for every business that hires a new employee, per employee.
A program that gives breaks for those who donate to charity, a break for those who use green energy or those who buy green cars or make green cars, for those who buy light absorbing grids.
Another tax break program for people or corporations who invest in Israel's innovative ideas for green energy, and bring those ideas back to the U.S.
I think that it would be unwise to keep borrowing money from other countries to make up for the deficit, because that is only making the deficit gap bigger on the long run thanks to the interest rates.
