As for the military being the "ONLY thing that is MANDATED to be funded", the Federal government, through Congress, is also authorized to coin money, regulate international and interstate commerce, establish uniform rules on naturalization, and all the other powers outlined in Article I, Section 8. All these powers imply the authorization to fund and administer. The last sentence of Article I, Section 8 states, "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof."
All the items you have stated you would reform are good. However, most of them would do little to reduce the national debt. Tort reform and repeal of the 17th Amendment would do little to immediately change the picture. Abolishing Federal unions is a good idea, but they lack the power to strike, so they lack the leverage private sector unions have. The chances of cutting Medicaid, Medicare, Social Security, ADC, and probably Obamacare, the biggest item in the Federal budget, are minimal. It is not called the "third rail" of American politics in vain. The United States also has a massive debt to service. Default is an extreme option that would lead to world economic chaos.
Increasing taxation on the rich or the middle class and poor is counterproductive. Our "guns and butter" policy has led to a ratio of national debt to gross national product exceeding World War II levels, when we were fighting really formidable enemies, not crazed Islamic radicals running retrograde societies. When push comes to shove, the electorate will choose the social programs over world power status, as happened in Britain after World War II. Our underlying problems, such as a weakened industrial base and the worst educated population in the West, are as formidable as those that forced Spain from its role as a world power. American youth are in such poor physical shape that if you were to restore the draft, it would take at least a year to get them in the same level of fitness as their grandfathers.
The United States is running out of options. Irrespective of who will win the election, I don't see any option but the inevitable: either defaulting on the national debt or hyperinflation. Both the welfare state and the warfare state will collapse, like it or not.
What part of rolling back the budget to FY1940 and eliminating those agencies didn’t you understand?
That alone would eliminate a massive portion of the deficit. Not to mention realigning the remaining agencies to eliminate the costly redundancy.