The correct answer to this open question is the following.
You first must analyze the nature of the problem to consider the best decision. Both have positive and negative consequences. Benefit some, affect others. Raising taxes is going to allow the government to have more money to invest in social programs, but some wealthy people or conservative people are going to oppose that measure. They do not accept the federal government increment support to social programs. On the other hand, if you cut programs, low-class people are going to be affected because most of the times they depend on those social programs to make a living. That is why you need first, understand the nature of the problem to be resolved, and then make an intelligent decision that benefits the most and affects the less.