I can't see how it won't end up looking like a massive cut in entitlement spending, probably along the lines of Paul Ryan's most recent doomed proposal:

http://www.roadmap.republicans.budget.house.gov/

This isn't to cheerlead Republican strategies (after all, I think the heart of Ryan's proposal is decidedly anti-Republican, since Republicans and Democrats alike seem to have based their party orthodoxy on not cutting spending, be that in the form of tax cuts or increased entitlements, respectively), merely to offer an example of the kind of cutting that will, but necessity, have to happen.

Of course, there's always the "collapse of the US" scenario.

Optimists, therefore, will prepare for the painful years of budget-cutting by refusing to rely on entitlements in their later years.

Pessimists? Well, I suppose joining a survivalist encampment doesn't sound that bad...