As Rex Nutting of Marketwatch noted in his 12/18/2012 article "Why isn’t Obama demanding corporate welfare cuts?", "$2.6 trillion could be saved [...] It’s possible to achieve all the budget savings we need for the next 10 years simply by cutting the fat out of discretionary spending programs and tax expenditures, without raising tax rates on the wealthy or cutting the safety net at all."
Oil and gas companies, which are raking in record profits, certainly don't need $4 billion a year in subsidies, and even the oil company CEOs admit they don't need it!
Why are cuts to Social Security and Medicare even being discussed while literally billions in corporate welfare are constantly spilling out of the Treasury?