The specifics are as follows: The budget would reduce the deficit by $1.8 trillion over ten years -- $600 billion of this reduction would come from revenue raisers, and $1.2 trillion would come from spending reductions and entitlement reforms;
It would change the benefit structure of Social Security (chained-CPI);
It would means test additional programs in Medicare;
All told, it would include $400 billion in health care savings (or cuts);
It would cut $200 billion from other areas, identified by The New York Times as “farm subsidies, federal employee retirement programs, the Postal Services and the unemployment compensation system;”
It would pay for expanded access to pre-K (an Obama priority) by increasing the tobacco tax;
It would set limits on tax-preferred retirement accounts for the wealthy, prohibiting individuals from putting more than $3 million in IRAs and other tax-preferred retirement accounts;
And it would stop people from collecting full disability benefits and unemployment benefits that cover the same period of time.