What to cut? What to keep?
The government's dilemma is one we're chewing over across BBC News and this week we're working hard to help audiences understand the story and its implications on radio, TV and online - nowhere more than Newsbeat where our young audience is not only engaged with the story but also highly opinionated.
So we asked Comres to survey more than 1,000 18-to-24-year-olds to get their views.
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Young voters, the survey says, think the government should take a hard line on benefits, slashing them to help plug Britain's £90bn deficit. It finds that 76% of young voters think unemployment benefits should be cut and 68% say that housing benefit needs to be reduced.
When it comes to public services that should be protected, 87% say the NHS, followed by 82% who pick schools; 81% select police and fire services.
The survey suggests they're prepared to see the government make the "tough choices" being discussed. Young voters favour spending cuts over tax rises by a large margin.
62% say there is a need to reduce spending - though most want the cuts to be made slowly to give the economy as much time to recover as possible.
Perhaps unsurprisingly, moves to increase university fees or introduce a graduate tax are only supported by 33% of 18-to-24-year-olds, with 64% against.
Policies to scrap quangos and freeze public-sector workers' pay if they earn more than £21,000 are also not widely supported. Apart from front-line services such as the NHS and schools, old-age pensions and defence spending emerge as the most popular to survive unscathed.
Other welfare payments plus new house building, overseas aid and transport are ear-marked for the deepest cuts.
We'll keep returning to our young voters to gauge their reactions: first to the government's plans and then further down the line when they bite. Will their views change or harden? It'll be interesting to see.
Rod McKenzie is editor of Newsbeat and 1Xtra News. Fieldwork for the survey took place from 28 September to 3 October 2010.