Here's Ron Paul's Crazy Plan To Destroy The Economy. He will eliminate five departments, saving one trillion in spending, and only take a presidential salary of $39,336.
Titled the "Plan to Restore America," Paul's plan would cut nearly $1 trillion
in federal spending immediately after taking office, while also cutting
over $500 billion in revenues when compared to President Barack Obama's
2012 budget. He claims his plan would return the nation to budget
surpluses by 2015.
would cut funding from nearly every government agency, while
eliminating several Cabinet agencies in their entirety. On the revenue
side, Paul would lower the corporate tax rate and eliminate the capital
gains and estate taxes.
- Cut over $600 billion from mandatory spending programs including cuts to unemployment insurance
- Department of Defense: End the wars, freeze other spending. $196,695,000,000
- Department of Transportation: Privatize the FAA, $39,936,000,000
- Department of Health and Human Services: Cut funding for FDA and CDC, eliminate Low Income Home Energy Assistance Program. $16,972,000,000
- Department of Homeland Security: Privatize the TSA. $13,788,000,000
- Department of State: Eliminate foreign aid and dues for international organizations. $19,412,000,000
- Environmental Protection Agency: 30 percent cut from 2006 levels. $4,281,000,000
- Eliminate the Departments of Energy, Housing and Urban Development, Commerce, Interior and Education. $173,677,000,000
- Cut Medicaid spending by $95,000,000,000 (34% cut)
- Cut Food Stamps program by $50,000,000,000 (62% cut)
- Cut Child Nutrition programs by $7,000,000,000 (33% cut)
- The plan does not reduce Social Security, Medicare, or retirement program spending
the plan does not include an analysis of the economic effects of Paul's
proposed budget — though cutting $1 trillion from the federal budget
would be an instantaneous 7 percent cut to GDP, nearly equivalent to the
slowdown seen during the 'Great Recession.'
And proof right here that this guy has lost his mind.
Department of Education: They oversee things like ensuring the
nations education follows civil rights, students can get financial aid,
special education, adult education. Yeah, lets privatize all that and
the market will ensure that our children get the best education...
Department of Energy: They only oversee everything nuclear in our
country. Waste disposal, plant standards, and weapons. Not to mention
they help ensure standards in power and power generation across the
country. OH, they are also the largest sponsors of R&D; and are the
department that has such no-name labs like Lawrence Livermore, Los
Alamos, Oak Ridge, and Ames, but they've never done anything of
Department of Commerce: Guess there is no need for NOAA, National
Weather Service, Patent and Trademark office, National Institute of
Standards and Technology, National Telecommunications and Information
Administration. The industry will self regulate right? I mean
ATT/Comcast and all the companies are doing such a great job, right?
Department of the Interior: Yeah, who needs a National Parks service,
Fish and Wildlife service, Reclamation, or any of that other
conservation stuff that corporations and the market seem to always
Housing and Urban Development: The mortgage crisis never happened, we
should remove even more roadblocks in the housing industry to ensure
the market can get everyone into a home...
All of these departments are regulatory and management departments
and were stood up because the market wasn't doing a good job, because
the market was excluding people, because the things these departments
oversee shouldn't be for-profit.
He also wants to cut all funding to NASA, the EPA, FEMA, stem cell
research, is against gay rights, the Civil Rights Act and would allow
states to have prayer in school.
problem with this is that it will result in a depression. There will be
few good options for growing out of that depression. There will be lots
of bad options for growing out of it.
I think that world investors may have to take some sort of bath through a
jubilee of debt forgiveness, unless we can start putting people to work
actually improving airports, roads, etc.
I am concerned that with Europe on the ropes, this would be a very bad
idea. Deutsche Bank is in really bad shape. There are others as well.
France may not be able to bail out banks without credit rating woes. I
just think this big cut now would be dangerous.
And you know Wall Street will attempt risk on trades. How can you cut
these when many staples are already priced too high? And jobs aren't out
their to cut unemployment benefits. You will see more people on the
street, hardly a confidence booster for everyone else. You could start a
Read the full plan here >
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