Reduce the deficit? In what world are you living? Even completely dismantling the TSA (which is just unrealistic) would merely save 8 billion Dollar per year, that's about 0,2 percent of the annual budget of the US.
Clearly you aren't a politician, if I can cut a program that saves $8B a year then I'll announce it as saving $80B over 10 years. :-)
That said I realize its not one of the heavy hitters in the budget, my cynical point of view was that the Government would keep around egregious programs just so that they could cancel them to distract people from real issues without losing any of their pet projects.
You're correct in that it wouldn't help the deficit, but it sure would reduce the cost of airplane tickets (the TSA is funded through a $5 per segment "September 11 Security Fee" added to each ticket.)