He is delusional to thik either could happen without shedding departments.
I have heard the waste nonsense for years.
As for making a dela to get rid of debt deal with who over what.
I work for a DOD contractor and there is plenty of room to cut. The dirty little secret is, once a contractor gets a job, their goal is to spend every dime to enhance profits - leave no money on the table. Even if it means hiring people that don’t have the skills, just get people charging to the job number.