Paul Will Eliminate $1 Trillion, Cut Presidential Salary By $360,664
October 18, 2011 by Sam Rolley
GOP Presidential candidate Ron Paul in a recent email to supporters said that he has been given only 18 minutes, 47 seconds to speak during the past three debates; mainstream ignorance of the candidate may end with his Monday release of a budget plan announcing about $1 trillion in specific Federal budget cuts.
According to The Wall Street Journal, Paulâs plan calls for the massive cuts to be made during his first year in office along with the elimination of five cabinet-level Â agencies and the lowering of corporate tax rates from 35 to 15 percent.
The candidateâs âRestore Americaâ plan is focused on drastically reducing government reach to spur American business growth. This will be accomplished in part by repealing Obamacare, last yearâs Wall Street regulations law and the Sarbanes-Oxley Act.
Paul also calls for a 10 percent reduction in the Federal workforce which may be achieved by eliminating the Departments of Education, Commerce, Energy, Interior and Housing and Urban Development.Â He also calls for a 30 percent budget cut to the Environmental Protection Agency, a 40 percent cut to the Food and Drug Administration, slashed Pentagon funding for foreign wars and completely eliminating spending on foreign aid, according to POLITICO.
The Congressman from Texas also wants to see programs like Medicaid, the Childrenâs Health Insurance Program, food stamps, family support programs and the childrenâs nutrition program block-granted to the States and removed from mandatory Federal expenditures. In regard to Social Security, his campaign says that the plan âhonors our promise to our seniors and veterans, while allowing young workers to opt out.â
In his plan, Paul also ensures voters that he is not going to make massive Federal budget cuts while living like a fat cat politician. He plans to reduce the Presidential salary from $400,000 yearly to $39,336 a year, which the plan says is âapproximately equal to the median personal income of the American worker.â