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.
This guy's not just wackadoodle, he's dangerous! Such actions would be catastrophic for all but the ruling class.
Pres. Hoover would have been proud of Ron Paul. That cut everything mindset gave us our first great depression, and it appears that republicans desperately want another one.
He knows about ending Wars, we can not even afford now. Slashing entitlements, such as social security, medicare, will hurt poor man's living. Cutting Congress and Senate salaries, it is impossible, you are talking like passing senate and congress term limits, you know what, if he asks to take poison, does congress take? does senate take? unworkable. Some body needs to come back to do these, is some external force. let us pray for it. till then, let us be mum....
Don't worry if Galveston gets hit with a hurricane, like in 1900, and there is no FEMA, some private group (or fish) will clean up the 6000 bodies floating in the Gulf. Libertarians should not be allowed on public highways.
This man is the only true fiscal conservative in the race.
Nothing but a buffoon.
I could also take a $39k salary if i already had 10 millions in the bank.
He must know that even should people be stupid enough to put him in office Congress would not vote for even one of these measures. Executive order can only go so far.
One tax plan attract republican voters so far 9-9-9
So Follow the 9-9-9 we may borrow $1 trillion every year
this is the only way we can shrink the beast that is the federal govt. these dept.s have done more harm than good. tsa handles people poorly, dept. of ed., well look around today. not the brightest divergent thinkers among us. and it costs us billions and billions. be done with it. go ron paul!! be brave. challenge the money printers and the abusers of power. 'wire palladin' really needs to do his homework. the 'elimination' of depts. did not spiral us into a depression. the ferderal reserve did by propping up false institutions. just like it is now. READ!!!!
Paul is the real deal! What makes him different from other candidates is he means what he says, and this will scare away special interest.
Finally, a plan that talks about managing spending (instead of taxing) on low-value and no-value bureaucracies.
How interesting to watch the criticism of Ron Paul's economic plan!
They take shots that amount to nothing more than name calling...but no fact, figures, or math to back it up. Cmon neocons! You can do better than this!
Bring it on!
That is American Austerity right there...We can control it or it will be forced on by the market and Chinese in a TARP like program with 1 day left till catastrophic consequences. Remember how well TARP worked out for everyone? We are bankrupt I hope people understand that...This makes sense let's take the medicine now before it gets really dangerous. Our dollar is at stake...Ron Paul understands that.
Sounds like the most reasonable plan offered yet, I don't get why people are arguing against it...
Paul's latest insanity is just one reason while he'll never see the inside of the White House - unless invited by the President.
Awesome. A huge hit to the ruling class, who won't take this lightly. Expect the media and our government and corporate leaders to be literally at war with ███ ████ in the next few months.
Dr. Paul has 30+ years of experience defending liberty, yours and mine, and 30+ years of hitting the bullseye everytime in terms of domestic, foreign, and economic policy. Ron Paul has EARNED my vote in the coming South Carolina primary.
"If you trade liberty for security you deserve neither." Ben Franklin If another hurricane was to hit instead of those people relying on some one to take care of them, the community around them would be responsible to help. Do you know how many people from Galveston were staying in homes all over Texas. Why because the people around felt responsible to help. That kind of strength and unity is what this country needs...
It's about time we get a real plan for balancing the budget and stop the debt that is suffocating our economy and bankrupting our children. It's not mentioned here, but there are no cuts to SS, Medicare, or veterans benefits. Young people are given the option to opt out of SS.
Ron Paul 2012
Please don't scare him off people! He's only trying to HELP YOU!
HERE is your "Bold" plan. I love it! I don't understand why people are against this! It's all logical and won't hurt the 99% one bit! No Child Left Behind is crap, DOE spends on crap that gets us nowhere... the Fed NEEDS to be audited and reigned in, the TSA needs to go (they molest us and don't make us ANY safer) and the WARS NEED TO END SOMEDAY!
It frustrates me to see people who can only think what they are programmed to think. Media and the big government create differences among people and then they make them fight on those issues. That's just plain simple how media and the governments work. Everyone has same requirements to live (different preferences ofcourse) yet people disagree with each other on how things need to be done. Even dems wouldn’t agree with dems on certain things and same goes for republicans. Dems and republicans essentially do the similar things and raise budget deficits and the debt on the country. They both want bigger empire and policing of the world. Yet they make people fight over issues that they don't even work on once elected into power. How many more times do you think politicians will promise health care reform and tax care reform to get in office?? They will keep doing it until they can be-fool you. Let me break it down to you: Its all you the people who are to be blamed for putting up with stupid politicians and their fake promises.
When you are under a debt of $10,000, you don't go around and stimulate yourself with more debt but rather work hard to pay off the debt.
Ron paul is the only guy who calls the spade a spade and people start thinking ohhh he is just a nutjub. We don't need to pay attention to him. He has crazy ideas. He is the only guy who wants to be elected on the basis of his philosophy. Politicians like Obama, Mitt Romney flip flop just to get into the office. Imagine what would they do if they get elected into the office? Oh wait you don’t need to imagine just open your eyes and see what obama has done.
Ron Paul's ideas are most appealing to young people period. Do you know why? because they haven't been programmed to think the way most of you have been. Governments have lead their young men and women into war on lies in vietnam, iraq. Killing so many people in other countries and losing thousands of its own men.
Those who think that cutting budget won't do any good should know that the debt is the major hinderance in the growth of the economy. No economy grows when the main street is under debt just like you wouldn't prosper and wouldn't buy a house if you owe bank hundered thousand dollar.
Ron Paul for president.
Frankly I am astonished by some of the comments here. People are calling Ron Paul a "buffoon" or a "whacko" for trying to save our country from being crushed under the weight of our federal debt. Would the gentlemen making these comments like to propose (any) other way of balancing our federal budget? Please, I'm all ears. Or are you just a brainwashed partisan fanboy?
“Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all. We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.”
― Frédéric Bastiat, The Law
We continue to see the product of socialist dictatorship in education: Only the socialist viewpoint is presented, and the assumption that if we don't want the government doing it at the point of a gun, that we are opposed to it being done.