Here is a little web app that allows you to make some choices on how to balance the budget for 2015 and 2030.
http://www.nytimes.com/interactive/2...s-graphic.html
Here's my choices:
http://www.nytimes.com/interactive/2...oices=s11166m5
My ratio is 54% tax increases, 46% spending cuts.
My selections:
Cut foreign aid by 50%
Eliminate earmarks
Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
Reduce the number of troops in Iraq and Afghanistan to 30,000 by 2013
Cap Medicare growth starting in 2013
Reduce Social Security benefits for those with high incomes
Tighten eligibility for disability
Return the estate tax to Clinton-era levels
Raise capital gains tax to 20% for those making $250k+ per year
Expire Bush tax cuts for income above $250,000 a year
Raise Millionaire's tax on income above $1 million
Eliminate tax loopholes, reduce rates (Bowles-Simpson plan
Introduce a National sales tax
Increase Bank Taxes