Marty --
There is a budget deficit.
There are two ways to fix it...reduce spending or increase income. It makes no sense to only do one of those things when you can actually do both.
The three biggest, relatively equal sizes of that puzzle are defense spending, medicare, and social security. Defense is absolutely bloated and should be reduced, and perhaps significantly reduced. Social security is going to implode at some point, so I would like to see a plan put in place that gradually phases it out in favor of a government-overseen, private system. My suggestion would be that what you pay in is in fact what you get to take out. Of course, the government-overseen aspect would require that you pay a minimum into it and require that you don't take out from it until a legitimate retirement age.
I am against pinching pennies on things that don't make a dent in our government spending like Planned Parenthood, etc. It's just dodging the actual issue.
Real reform to institutions like Social Security will have to be bipartisan. Moreover, I think it will require a 2nd term President. It simply will not be popular.
Ideally, raising tax rates would also be bipartisan...but I won't hold my breath on that.