Conservatives Introduce Plan to Balance Budget in 5 Years--Eliminate Education, Energy, Housing, Commerce Depts.One thing is certain. Four more years of Obama and the speed at which this country hurtles toward fiscal collapse will only accelerate. He has demonstrated - without doubt - that he has no interest in - or concern for - the federal debt that is strangling our economy and turning the national treasury into an I.O.U. printing press.
By Christopher Goins, CNS News
(CNSNews.com) – Senators Rand Paul (R-Ky.), Mike Lee (R.-Utah) and Jim DeMint (R.-S.C.) introduced a budget plan on Thursday that would balance the budget in five years and pay down $2 trillion of the national debt in 10 years.
The plan includes spending cuts, entitlement reforms and tax reforms.
Paul said that the “Platform to Revitalize America” is the only plan consistent with the balanced budget amendment Republican advanced in the U.S. Senate because that amendment requires that Congress balance the budget in five years.
The plan eliminates the Department of Commerce, the Department of Education, Department of Housing and Urban Development and the Department of Energy.
“By eliminating departments we don’t have to make as significant of cuts in other areas,” Paul said.
“So entitlement reform could be more gradual because we eliminate some departments that we think should be done by the states and the localities,” he continued.
Other comprehensive steps to scale back the size of the federal government include selling off excess federal properties and land and defunding duplicative agencies.
On the regulatory side, the plan eliminates the president’s health care law and the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On the energy side, besides eliminating the Department of Energy, the plan proposes to open the Arctic National Wildlife Refuge for oil and gas exploration and permits the Keystone XL Pipeline project.
Tax reform includes a 17 percent flat tax for individuals and corporations.
“We think if the country would pass a flat tax like this that would eliminate a lot of the loopholes and special interest that lowers the rate for everybody, we think you’d see an economic boom in this country like you’ve never seen before,” Paul said.
The bill is co-sponsored by Sen. Mike Lee (R-Utah) and Sen. Jim Demint (R-S.C.).
DeMint said that they need to emphasize what he thinks a lot of their colleagues are missing: “a genuine and very real sense of urgency that our country is in very deep financial trouble and well on the way to look like Greece in a few years.” [link]
Demint, Paul, et al. can stop Obama from destroying our country.
They need our support. They - we - are the last, best hope for America.