Oh yes, if your car is stalled on train tracks while a train is coming, it's much better to do nothing than something.
[Edit: lest someone thinks i'm being needlessly flippant; The US has to do something about the federal debt. That is not in question. Democrats and Republicans all agree on this. There are external actors who will act and events that will take place if the US does not deal with it's debt (for instance, a downgrade by 2+ rating agencies). So there is no question about whether we must act or not. We must act. It is merely whether we will try to cut our way to prosperity (ha), or whether we will try to actually balance our books while trying to preserve as much of our society as possible.]
[Edit: lest someone thinks i'm being needlessly flippant; The US has to do something about the federal debt. That is not in question. Democrats and Republicans all agree on this. There are external actors who will act and events that will take place if the US does not deal with it's debt (for instance, a downgrade by 2+ rating agencies). So there is no question about whether we must act or not. We must act. It is merely whether we will try to cut our way to prosperity (ha), or whether we will try to actually balance our books while trying to preserve as much of our society as possible.]