Nov 17, 2011 7:28 PM GMT
Pretty wonkish with a lot of detail... not for the casual reader -
Instead, we offer a bold — but, we believe, feasible — plan that:
* “Cuts, caps, and balances” federal spending.
* Balances the budget in four years, and keeps it balanced, without tax hikes.
* Closes an historically large budget gap, equal to almost one-tenth of our economy.
* Reduces federal spending by $9.7 trillion over the next 10 years, as opposed to the President’splan to increase spending by $2.3 trillion.
* Shrinks the federal government from 24 percent of GDP — a level exceed only in World War II —to about 17.5 percent, in line with the postwar norm.
* Stops the growth of the debt, and begins paying it down, with a goal of eliminating it within thisgeneration.
To achieve these goals, our plan, among other things:
* Repeals ObamaCare in toto.
* Eliminates four Cabinet agencies — Energy, Education, Commerce, and HUD — and reduces orprivatizes many others, including EPA, TSA, Fannie Mae, and Freddie Mac.
* Ends farm subsidies, student loans, and foreign aid to countries that don’t support us — luxuries we can no longer afford.
* Saves Social Security and greatly improves future benefits by shifting ownership and control fromgovernment to individuals, through new SMART Accounts.
* Gives Medicare seniors the right to opt into the Congressional health care plan.
* Suspends pension contributions and COLAs for Members of Congress, whenever the budget is indeficit.