Alright, so what would you cut? BTW, by eliminating the social security trust fund, you'd essentially be robbing the taxpayers of nearly 3 trillion dollars.
300 billion on federal spending would leave about 50 billion to pay for everything, after we serviced our debt.
Some of those cuts are also unconstitutional. Congress has authority over the roads, post office, some regulatory functions, etc. Unless your magic wand gets rid of the Constittion as well.
Plan for eliminating the national debt in 10-20 years:
Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a