The efficiency cuts they are talking about will barely make a dent while making services worse for everyone. Good luck next time a disaster area needs FEMA assistance.
And not unlike a business when you have a deficit you have two options: cut cost and increase revenues, this incoming government will very likely decrease revenues through tax cuts, making the deficit even worse.
"What exactly will get cut?" - Make you a deal - set a timer and do 10 minutes of research on the subject and come back to report you found NOTHING that could be reasonably and easily cut?
EDIT - so far I haven't heard anyone claim we're going to balance the budget via this mechanism. The goal is to CUT WASTE and IMPROVE EFFICIENCY. I see this as a basis for having a real conversation about taxation personally.
It really feels like we're nearing the inevitable outcome from Citizens United, a country ran by billionaires, to the exclusive benefit of billionaires.