Raising taxes will not solve anything.

My analogy: Take an ordinary family whose breadwinner likes to drink and do a little gambling. The are in the hole and need to cut expenses. Drinking and gambling are put on hold and they start to pay down the bills.
Breadwinner gets a great raise from work. He/she starts celebrating and gradually old habits are incorporated back into budget. New budget becomes old budget.
Ma and Pa Kettle thinking on grand scale.