Tag Archives | Budget Cuts

Rand Paul’s ‘Modest, $500 Billion Proposal’

Rand Paul. Photo: Gage Skidmore (CC)

Rand Paul. Photo: Gage Skidmore (CC)

Senator Rand Paul, extreme tea partier from Kentucky, has a controversial opinion piece in today’s Wall Street Journal, claiming that his spending cuts would keep 85% of government funding and not touch Social Security or Medicare:

After Republicans swept into office in 1994, Bill Clinton famously said in his State of the Union address that the era of big government was over. Nearly $10 trillion of federal debt later, the era of big government is at its zenith.

According to the Congressional Budget Office, this will be the third consecutive year in which the federal government is running a deficit near or greater than $1 trillion. The solution to the government’s fiscal crisis must begin by cutting spending in all areas, particularly in those that can be better run at the state or local level. Last month I introduced legislation to do just that.

Read the rest
Continue Reading

Republican Budget Cuts Show Real Deficit

Photo: David Iliff

Photo: David Iliff

Aaron Cynic writes:

The Republican Study Committee released a breakdown of spending reductions and cuts, which they argue can save $2.5 trillion over the next ten years. Nearly all of the cuts come from the “discretionary spending” portion of the budget, which makes up just 16% of the total federal budget. The Republican plan is to simply push back spending levels to what they were in 2006 and hope for the best. Predictably, the Pentagon’s budget is off the chopping block. John Boener spokesman Michael Steele said “our immediate goal is to cut spending to pre-bailout, pre-stimulus levels.” Pre-bailout and stimulus levels for everyone but the defense department.

Some of the measures the RSC recommends make sense. Halving the printing budget to save $47 million in the age of digital information seems like a no brainer. Saving $15 billion by selling off unused federal property is something almost any businessperson would recommend.

Read the rest
Continue Reading