I still have not heard any good ideas!
Leave the third rail as is and begin getting the Federal Gov't out of the business of social engineering.
First step:
Stop all Federal money going to the states for Education. States should be on their own with their own schools. You want it you pay for it . Abolish the Dept of Education repeal all laws related to Federal involvement in Education and STOP all funds immediately
Ramaifications: Tough Love! States should be responsible. If that means a state will need an Income tax, so be it
Why should every little piss-ant town in the US be receiving Federal funds. Its bullshit and the Fed should not be involved
There's an idea - dont like it....piss-off!
There are a lot of places where we could cut and no one would notice except the bureaucrats in make do jobs. Just think about this -
Department of Energy cut from from 26 billion to 6 billion, should be enough and saves 20 billion
Department of Education cut completely saves 47 billion
EPA cut from 11 billion to 3 billion, saves 8 billion
VA- Switch to commercial treatment for veterans which as a number are declining. Cut from 56 billion to 26 billion, saves 30 billion
Transportation cut from 73 billion to 40 billion - saves 33 billion
commerce cut from 13.8 to 3.8 billion - saves 10 billion
HUD eleiminate - saves 48 billion
agriculture cut from 26 to 6 billion saves 20 billion
Saving at a minimum 216 billion
That would be a good start and is completely doable. Pass tort reform save another 10 billion in medical costs and you are already at 226 billion before you take the axe to State, HHS, and Treasury where there is easily that much again available in cuts and there is 500 billion annually of savings. Do that and cut all tax rates to 15% (but everyone pays, everyone) including income, capital gains, and eliminate inheritance tax. This would create the biggest longest burst of economic activity the world has ever seen and the deficit and the debt could be eliminated yes eliminated inside of 10 years.
labor cut from 13 billion to 3 billion saves 10 billion
Net result without touching Medicare or Social Security or Defense equals