The one and probably only time I'll link to Glenn Beck

But, he's right, this time. People claim to want to cut government versus raising taxes, but they think cutting foreign aid is going to prevent balancing the budgets by tax increases. Never mind that foreign aid is less then 1% of total government spending. So, it won't do much. Cutting back on military spending will mean a cutting of spending in a real sense (it's about 15% of total government spending). We've been subsidizing both our allies AND possible rivals for too long with our military spending. Let's cut the spending in half over the next X number of years and let the chips fall where they may. We've got enough nukes to destroy anybody who bothers invading us, we STILL would be spending 30% of what the world spends on the military, assuming no one else changes there spending. Yes, that would change, but I'm ok with that.

Of course, cutting spending on medicare, social security, education, and pensions for government workers, would do more to balance the government budgets (combined these areas are about 50% of government spending in America, and that's BEFORE the baby boomers start retiring in mass).