Please break this down for me with ways to fix.

[Jim in CT]

Social Security is an easy fix...

(1) raise the age at which you can collect (no choice, has to be done)
(2) make it means-tested. super rich folks would get less or nothing. I don't htink that's fair, but the fact is the $$ ain't there.
(3) allow for privatization, and invest some of that money in vehicle sthat will get better returns than t-bills.

Medicare - Go after frauds very diligently; enact serious tort reform, which does away wirth frivolous lawsuits, and doesn't force doctors to run unnecessary tests as a measure of "defensive medicine"..

Welfare - do what Clinton did, tell some of 'em to get back to work. And no one gets a check for doing NOTHING, make 'em all do some work for someone, or make them go back to school or learn a trade.

Get rid of the NEA. Fat cats on Park Avenue can pay full price for their opera tickets, they don't need subsidies from us.

That's a start.

[justplugit]

The Spending Reduction Act Bill has some ideas to cut
2.5 Trillion in 10 years.

Immediate cuts, $125 Billion cut back spending to 2008 levels and repeal
remaining Obama stimulus package

Fiscal year starting Oct. 1st. cut non defense discretionary spending to 2006
levels and freeze till 2021. This will save taxpayers $2.3 Trillion, attrition will
trim 15% of the civilian Federal work force and no automatic raises for the first
5 years.

Target more than 100 separate budget items, including duplicated
programs ,saving $1.3 billion annually, and decrease Federal travel budget
by %50 saving $7.5 billion annually.

End Freddie and Fannie, saving $376 billion in 10 years.

There were a few others, but sounds like some good areas to start cutting.

[mosholu]

Originally Posted by Jim in CT

Social Security is an easy fix...

(1) raise the age at which you can collect (no choice, has to be done)
(2) make it means-tested. super rich folks would get less or nothing. I don't htink that's fair, but the fact is the $$ ain't there.
(3) allow for privatization, and invest some of that money in vehicle sthat will get better returns than t-bills.

Medicare - Go after frauds very diligently; enact serious tort reform, which does away wirth frivolous lawsuits, and doesn't force doctors to run unnecessary tests as a measure of "defensive medicine"..

Welfare - do what Clinton did, tell some of 'em to get back to work. And no one gets a check for doing NOTHING, make 'em all do some work for someone, or make them go back to school or learn a trade.

Get rid of the NEA. Fat cats on Park Avenue can pay full price for their opera tickets, they don't need subsidies from us.

That's a start.

That is a pretty good start however I strongly disagree with no 3. While it would be a good concept to raise the rate of return on money paid into social security the idea of turning it over to financial services sector/Wall Street is just asking for, and imho guaranteeing, trouble.
On the Medicare front I would treble the existing penalties for fraud and also add the proviso that similar to the narcotics laws that allow for asset forfeiture upon conviction. I would prosecute everyone doctors, nurses, aides and office staff. Also there would be cash rewards/immunity for whistleblowers.