Some highlights of Paul's plan:
Cuts $902 billion in spending during the first year of a Paul presidency compared to current spending levels, or $981 billion compared to President Obama's budget request
Eliminates five federal departments: Energy, Housing and Urban Development, Commerce, Interior, and Education
Lowers the corporate tax rate to 15 percent
Makes a 10 percent reduction in the federal workforce
Eliminates all U.S. foreign aid
Allows younger citizens to opt out of Social Security
Converts the federal Medicaid program into block-grants distributed to states
Over its first four years, Paul's plan would cut over $4.1 trillion in spending while bringing in $2.9 trillion less revenue, reducing the projected deficit by $783 billion according to the Paul campaign's own comparison to the Congressional Budget Office's baseline projections of current spending levels
No comments:
Post a Comment