You want to cut some spending and shift some spending to those that deserve it and worked for it try starting here:
The welfare budget of the federal government is comprised of 13 unique programs as shown below. Federal Spending in Fiscal Years 2019, 2020, and 2021 in Billions: The federal budget increased from $4.4 trillion in 2019 to $6.8 trillion in 2021.
Main benefit increases On 1 July 2021 All main benefits will increase by $20 per adult per week.
Kind of dwarfs your "Elephant" to a mouse.
A solution 'could' be to instate a "draft" and all people between 17-35 who are unemployed, not in school and physically able be required to enlist in the military for a minimum of 6 years followed by reenlistment or job placement. They'd learn a trade and still be getting all the services (medical, housing, food, etc.) that they get for doing nothing.
On Topic: I hope they put a cap on who would get the extra $$ per month and limit it to people receiving less than $3,000 a month now. Wouldn't bother me if they just made that the minimum benefit amount. There are a LOT of people that worked faithfully all/most of their lives that didn't earn tons of money but WERE crucial to keeping the country running.
My 1st job that paid into SS earned me a whopping $300 a month (and YES, at the end of the 60's that was taxable)