Thank you for asking our views. I'm a hard core progressive, so my view on how to reduce the deficit and pay down the debt comes from that perspective. First, the deficit is a problem because our economy is in the tank. To improve the economy, we must get people back to work. To get people back to work, the overall demand in the economy must increase. The Federal Government can best help with that by awarding contracts for projects. I do not believe that ANY tax cuts will do ANY good, even "targeted" tax cuts meant to "help" the middle class. Those are failures from the word "cut". People don't mind paying taxes when their income is sufficient to pay their bills and put some money aside for the future.
One important aspect of the Contracts must be this: No foreign companies. None. Not one good or service paid for by US Tax Dollars should originate outside of our borders, and not one of those dollars should go to the profits of a non-US (tax-paying) corporation. If doing this means we have to withdraw from the WTO, do it. If this means we have to withdraw from NAFTA, do it. There are no shortcuts or substitutes for putting our own citizens back to work.
Second, take Social Security and Medicare off the cuts table. Period. Social Security should be changed so that it is self-funded forever, which could be done easily by eliminating the cap on the FICA tax. We also need to add a savings component, something similar to a National 401K, where anyone can put additional money into the Social Security Administration which would be invested in Treasury Bonds, Bills Notes or Municipal Bonds of their choosing.
Medicare should be expanded by initiating a public option where any US citizen can buy into the program. Nothing else will do more to help eliminate the deficit in Medicare funding.
Military contractors should be shown the door. No private company should ever be given a contract to do what our own soldiers are perfectly capable of doing. I mopped floors in the Galley when I was in the Navy. Now I hear we're paying people from the private sector more than an E6 to do that. That's insane, and stupid. End that.
Rebuild our roads, our water systems, our sewer systems, our power grid and our rail system. Do what Eisenhower was not able to do by putting rail lines alongside every Federal Highway.
Reverse the Bush, Reagan and Kennedy tax cuts. People in the top 1% of income earners should be paying 70% in taxes. People in the top 0.1% should be paying 90%. Prevent the concentration of wealth and power that leads to the corruption of power in Washington DC and everywhere else by making them understand that all the money they are earning belongs to the country, not to themselves personally. If they don't like that, they are welcome to fund Space Exploration so they can move to the Moon or Mars.
I'm a hard core progressive. Those are my views. Enjoy.