Cutting spending

The Heritage Foundation's Brian M. Riedl proposes "The Five-Step Solution: Cutting the Budget Deficit in Half by 2009 While Extending the Tax Cuts and Rebuilding Iraq and Afghanistan":

1. Freezing non-defense discretion­ary spending through 2009,
2. Capping farm subsidies for wealthy farmers,
3. Reducing the Medicaid growth rate to 5 percent,
4. Replacing the Medicare drug bene­fit with the drug card, and
5. Reducing entitlement spending by 3 per­cent by targeting waste, fraud, and abuse.

Sounds good to me.

(Link via Andrew Sullivan.)