Government subsidies would be forced to end. Of note is government backed mortgages. Much of employment is funded either directly or indirectly by the government. Hence employment would be affected. Healthcare would be greatly affected.  The short run costs would be substantial while the long run savings would be significant. Many eastern countries maintain an emergency surplus while the west, the US, maintains a deficit. With the resources of the United States and appropriate measures of containment of expenses, there is no reason that a surplus cannot be sustained in America.