Salary cap: how do we get under?

Vilma and Smith cut outright = 16.4 million in cap savings.

Saints face tough calls on Vilma, Smith - NFC South Blog - ESPN
Smith is scheduled to count $14.5 million against the cap. But the Saints could free up $10.4 million by releasing him.

Vilma is scheduled to count $8.6 million against the cap. The Saints could clear $6 million in cap space by releasing him.

If they're counting Bushrod at his last salary against the cap (not sure which source citing what numbers include what), he was 6.75 Million against last years cap, so the salary you quote for him wouldn't be much change; in fact it might save 3-4 million if they work out a cap friendly long term deal backloaded. We'd still have to find another 5-6M even if we cut both Vilma and Smith outright. Still, those cuts aren't as weak in terms of relief as you expected.