Which hurts more in the short run, tax hikes or spending cuts?

"Tax hikes, according to IMF research praised by Paul Krugman. The surprising thing is this is an IMF study that usually gets cited to show that spending cuts don't grow the economy -- that 'expansionary austerity' is a mere theorist's dream. But this same research also provides evidence that tax hikes cause more trouble than spending cuts in the short run." (11/14/12)