As for cutting spending: people talk about "waste" and "fat" in US budgets, and it's there, but it makes up a very small percentage of total spending.
I don't know about that - what of the absurd subsidies e.g. to corn, meat, etc? In Spain bullfighting
is estimated to take up 47€ of each family's yearly tax contribution. This is a sport that 60% of Spanish people either don't support or are against.
I can't make a list of all of these absurd expenses - and lack of transparency in government spending very much assures that - but the scale of it I believe is staggering