Las Vegas, Nevada (CNN) - Republican presidential candidate Ron Paul is proposing to cut $1 trillion from the federal budget in his first year in office and eliminate five cabinet level federal departments, if elected president.
The longtime congressman from Texas unveiled his proposals Monday as part his "Plan to Restore America," which also pledges to balance the budget over three years, and slashes regulations and taxes.
Programming note: GOP presidential candidates next face off at 8 p.m. ET Tuesday, October 18, in the CNN Western Republican Presidential Debate in Las Vegas, Nevada. Submit your questions for the debate here.
"A lot of people will say, well, cutting a trillion dollars in one year, that sounds radical. But I have been under the assumption that the radicals have been in charge way too long," Paul told a receptive audience at a campaign event at the Venetian Hotel and Sands Expo and Convention Center, site of Tuesday's CNN Western Republican presidential debate.
Paul proposed eliminating the departments of Energy, Housing and Urban Development, Commerce, Interior, and Education, as well as abolishing the Transportation Security Administration and returning responsibility for security to private property owners. Paul also called for reducing the federal workforce by 10%, slashing Congressional pay and perks, and curb what he called excessive federal travel.
"In many of the departments that we cut, there are some important places there that we just don't close down. Many of those important parts of each of those departments will be held in another department. So nobody gets laid off immediately, they get laid off through attrition," Paul said.
Paul's proposals also call for abolishing corporate subsidies, stopping foreign aid, ending foreign wars, and returning most other spending to 2006 levels. In an interview on CNN's "The Situation Room", Paul told anchor Wolf Blitzer that he will cut $200 billion from military spending in his first year, if elected, and "over a period of time, drastically lower."
"I don't cut anything from defense. I cut from the military. There's a big difference," added Paul. "We need a stronger national defense, not a weaker one. Just spending money doesn't necessarily help us."
Paul is also pledging that, if elected, he would take a salary of $39,336, approximately equal to the median personal income of the American worker. Paul is proposing to lower the corporate tax rate to 15%, extend all Bush-era tax cuts, abolish the so-called "death tax," and end taxes on personal savings.
According to his plan, Paul would also repeal two major pieces of legislation passed under Pres. Barack Obama, the president's health care reform law, known by Republicans as "ObamaCare," and the Dodd-Frank Wall Street reform law.
Paul, who's making his third bid for the White House, places third or fourth in most recent national polling in the race for the Republican presidential nomination.
I support RP and you're comments are flat-out wrong. The destruction of the principles of our country has happened over many years and correcting it will not happen overnight. but we must place a leader in charge who understands the problems and how we got there instead continuing the destruction of our foreign, social and monetary policies. Ron Paul as President is the first step in the long journey. So in turn, I suggest you stop 'guzzling' your NWO bs and start "thinking about it"
$1 trillion in cuts without the need for a "super committee".
That shoud tell you the difference between a straight shooter and those that prefer to kick the can down the road.
Ron Paul, trying to chop up the middle and lower classes for the benefit of the ruling class "job creators" like no other right wing nut job! At least he isn't bothering to hide it like the other nut jobs at the debate. America please take notice!
If everyone remembers that Obama said the he would cut the deficit in half in his frist term as President. Well it's coming to the end of his frist term and the deficit has not been cut in half as a matter of fact it has increased.
As a matter of act, if the Bush Tax Cuts were allowed to expire the annual deficit would be cut in half. Unfortunately, the Republicans reneged on their promise to the American people that the deficit ballooning BTCs were just temporary and they would be allowed to expire. That promise was made to the American people in 2001, and again in 2003. And that promise was broken during the 2008 presidential campaigns, and again in 2010.
The American people shall never forget.
In some ways I really like Paul. I voted Democrat for the first time at the last major election, but I think Paul is one of the few GOP hopefuls that has some kind of a brain. He may be bat-shizzle crazy, but there's some kind of intelligence behind everything he says. I don't agree with everything he states in this proposal and don't think half of them would fly, but there are some aspects that are certainly respectable. Cutting his own salary? Very cool statement. Ending all the foreign wars? Yes. Removing the department of energy and FEMA? Mmmm... not too cool. I think those things are important to keep in place. Will be curious to see how this goes for him. I can't stand Herman Cain and think his 9-9-9 plan is beyond ridiculous.