One idea that the deficit hawks like is raising the eligibility age for Medicare. During the 4 month farce to raise the debt ceiling Obama himself had at one point suggested he might be open to discussing this-though some like Lawrence O'Donnell believed it was a negotiating tactic as well.
In any case the benefits from doing so may not be quite what we have been led to believe they would be. Republican Thomas Coburn relishes the idea and lectures that older Americans need to learn to sacrifice and settle for less:
"Sen. Tom Coburn (R-Okla.), who supports the age increase, acknowledges it may require “some sacrifices of older Americans.” But he said tough choices “are necessary for our country to survive.”