the defense spending does a lot for the economy and their are many jobs attached to the spending, I fear a large cut will put many many civilians out of work, and not only the ones that work for the Army, Navy, Air Force or Marines. Companies like Lockheed, GE, Tyco, etc.
The first priority needs to privatize the US post office and turn it into a profit center and get it out of the loss column.
Second cut foreign aid by 50%, let china spend their money and we'll keep a strong defense just in case.
Third, the frontier..... go back to the moon before the Chinese and mine for Helium 3 and other minerals and bring back home and sell to other countries for a profit. Empty the prisons and have them go to work and live on the moon and make money. Kinda like England did with Australia.
Go column by column and see where cuts can be made to BS programs that do not generate revenue for the government. Do not cut medicaid, social security and other programs the are needed in case you are disabled with sickness or injury.
Enact tougher laws to deal with those who defraud the government, and then send their asses to the moon.
EPA.....let them regulate the moon, just bring them under control and cut some of the red tape. Pollution in China in rampant, kinda glad we have the EPA but they are costing the US more dollars than they save.
Higher education give scholarships for new emerging technologies.
as Vince would say "that's my two cents"