The Easy Way to Cut the Federal Deficit « The Reality-Based Community: One can debate the political pros and cons of President Obama’s proposed budget: Jonathan Chait does an excellent job here debating with — himself! But in fact there is a quite simple way to reduce federal spending by $47 billion a year as a conservative estimate: that old public health care option. Such things, however, cannot be discussed in polite company, so let’s just reduce Pell Grants, maternal and child health, and food safety inspections instead. Whew! Glad we dodged that bullet.