The first thing I would do (from Thomas Sowell) cut government payments to billionaires like big agriculture firms in the name of subsidiaries. I am not talking about the small family farms, but the big corporations and that would include subsidies for bio-fuel and other green energy projects that the government pays out. We don't need these expenses and dropping these subsidies is not going to put Americans in harms way or cause them to suffer because these are not essential needs of the people right now. GE has received billions in subsidies with green energy projects like wind turbines and those toxic light bulbs which by the way are all made in China and 35% of GE jobs are overseas. I say cut them all off the taxpayers money because it is putting a burden on the deficit.

Next I would do what Harding implemented and Coolidge continued to do (after Harding died)in the mid twenties and drop taxe rates across the board. Harding started with over 11% unemployment and 700 million in revenues and after his tax cutting plan the unemployment rate averaged 3.5% and revenues were over 1 billion. What's interesting is the same old verbiage of the rich are not paying their fair share of taxes was the talk of DC back then, but after Harding's plan the rich ended up paying over 65% of taxes that went to those high revenue increases. Proof that this plan worked can be judged by Hoover doubling the tax rate and FDR raising them even higher and went from over 1 billion in revenues to a mere 500 million in 1935 and the results put the burden on the poor paying more taxes than during Harding's plan.

John F. Kennedy

"It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."

It worked for Harding/Coolidge, it worked for JFK, it worked for Regan and it worked for Bush with the highest ever revenue received from taxes. It would work for Obama too and he would be known as the most exceptional president of modern times if he were to implement such a plan.

Then I would get rid of some tax loop holes for billionaire corporations. Not all of them, but some of them and I know it is irresponsible for me to not know which types right now, but I haven't looked into it in depth.

Finally I would defund Obamacare as it is putting a strain on everybody and most every state in the union. The over 1,000 waivers (because of high cost) on having to comply with Obamacare is proof along with premiums already rising and the CBO saying health premiums for individuals would rise by 15% in 2016 and the deficit would rise from Obamacare too. Did you know the doctors as of this year are scheduled to receive 23% less for their services and it will be 29% less next year. Besides this hurting patients it will mean less revenue for the government because of the lower payroll received. I think Obamacare is the single biggest problem we have to endure now and will in the future, both financially and medically.

Well, that's where I would start.