A 1/3rd cut in spending on both sides of that equation would still relegate Entitlement and Defense spending as a majority of our government spending...simply changing it from 3/4ths of our spending to 2/3rds.
Education, subsidies, foreign aid, these things are drops in the bucket compared to defense and especially entitlement. Drops in the bucket do add up, but they don't really begin to make a noticable difference until the rest of the water in the bucket is relatively low. Unless you seriously look at curbing spending in the biggest offenders, and mind you entitlement spending is verging on 3:1 more than defense spending, you're just playing games. From my memory, I believe if we cut every bit of defense spending that's spent in any fashion...I mean cut all the way, down to $0...we'd STILL need to raise revenues, total revenues, by around 35% just to break even. If we cut everything but mandatory spending I think we'd just barely be coming under the deficit line. Raising taxes, unless you're going to astronomical levels, is a similar drop in the bucket as those other things I stated. Could it potentially be part of the solution? Maybe. But nothing is going to have a significant effect until the elephant and the ****ing MAMMOTH in the room get addressed seriously.