There are various estimates to what the deficit currently is, but here is what we do know (Careful, ScaifeNet link). When President Clinton left office, he had a surplus. During the Bush years the deficit climbed to close to half a trillion. With the much needed stimulus, unfunded, the deficit jumped to over a trillion. So where can we find a trillion.
Lets start by reviewing the budget breakdown. As you can see, no meaningful dent can be made on the budget without significant cuts, reforms, or cost savings, in the area of Health & Human services and defense.
Of course, the other option is to look at potential revenues. By extending the Bush era tax cuts to ALL Americans, yet allowing the top tier to expire (a modest 3% increase in each earned dollars over $250,000) would fuel a 700 Billion dollar revenue in flux. Without this balanced approach, where does the money come from.
See, it is ease to scream cuts, it is simple to buy into the Liberal spending spree, but NONE of these Tea Party Republicans have any solid details as to how they would do it.
You wanna slice of reality, lets cut the entire Department of Educations, but that is only 100 Billion dollars, where do you find the other 900 Billion, OH, that would be the same as the Defense Budget . . . . . . If you want to get real serious, the Interesting on our debt is almost 400 Billion dollars. You want to start taking the debt, you need to eliminate the deficit. And like we have found here in Minnesota, you can't do it with cuts alone, a balanced approach is required.