What part of rolling back the budget to FY1940 and eliminating those agencies didn’t you understand?
That alone would eliminate a massive portion of the deficit. Not to mention realigning the remaining agencies to eliminate the costly redundancy.
There is no political will to cut back on Federal transfer payments and welfare programs. Defaulting on government debt would lead to a worldwide financial crisis. Our national debt now exceeds our GNP. Even Obama would be compelled to massively increase military expenditures if Iran decides to block the Straits of Hormuz or North Korea attacks South Korea, both of which events would likely trigger a world war. Then there are the issues in the culture and economy: the consequences of permissiveness, a Third World level educational system, the collapse of our industrial base, drug abuse (legal and illegal), etc.
No Presidential candidate has an effective plan to address these issues, not Romney, not Gingrich, not Paul, not Santorum, and certainly not Obama. Reality will hit this nation as it did Britain, Spain, the USSR, and the Roman Empire. God help us.