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Entitlements :)

But seriously I'd work on getting the country off of social security. Honour the current pension plans of current retirees and workers, but stop it so new people entering the workforce aren't bought into this ponzi scheme. Yeah it will make things worse in the short run...but maybe if we had a government capable of looking more than 4 years (the length of his term) into the future there could be actual long-run change for the better.

Also cut Medicaid/Medicare and military spending. 

Bring the troops home from this illegal war.