Especially if elasticity is low, policymakers should be seeking assurance that charities spend money in a particularly wise, effective way.

ECONOMIST: Charity and taxation

And to achieve on the revenue side that package, it has to be done in a way that both raises rates and in an economically wise and politically feasible way, closes some loopholes and caps some deductions.

WHITEHOUSE: Press Briefing by Press Secretary Jay Carney,

"This legislation is wise, it has consensus, it brings us together in a bipartisan way, and we are definitely going to leave no veterans behind, " House Speaker Nancy Pelosi, D-California, said during a Capitol Hill rally Tuesday for a new GI Bill.

CNN: Dems may try to add conditions to war funding

But we have seen indications that others in the Republican Party, as well, obviously, as Democrats, believe that balance is a wise way to go when we talk about achieving both entitlement reform and tax reform.

WHITEHOUSE: Press Briefing by Press Secretary Jay Carney,