Conservatives, what do you think about the President's Plan to cut 4 Trillion over the next 12 years?

I listened to his Speech on You Tube twice last night, and although I am a Progressive, I like what I heard. We can easily cut 400 Billion in Defense over the next 12 years, we can do this by reducing our footprint in Europe and Asia, as well as gradually reducing our Nuclear Arsenal. We have enough Nukes to blow up the entire world 10 times over. Perhaps destroying it 8 times over is enough. Also we need to let the Tax Cuts for the wealthy expire, but I say let all of the Tax Cuts expire, because that will save us 4 Trillion Dollars just on that act alone. We can still cut more fraud and waste out of Medicare, without cutting the benefits, this will make Medicare more solvent for generations to come. Finally, we need to tweak Social Security to make it more solvent.