“Ron Paul has now walked the budget-cutting walk he’s been talking about.” The words of Investor’s Business Daily’s Andrew Malcolm sum up most commentators’ initial reactions to the Texas Congressman’s “Plan to Restore America,” and who could disagree? For decades Paul has been arguing that federal spending must be slashed, and on Monday, October 17, he laid out just how he intends to do that if elected President in 2012: Eliminate agencies, end foreign aid, repeal reams of regulations, cut military spending, reduce the federal workforce, and freeze mandatory spending. His expected results: $1 trillion in immediate cuts, followed by a balanced budget in three years. “Bold” — the word most commonly used to describe Paul’s proposal — is, perhaps, an understatement.
Both supporters and detractors praised Paul for being specific in what he would cut.
Cincinnati’s Fox19 station, for instance, said Paul’s plan “is the only full budget plan proposed thus far that proposes balancing the budget with actual cuts. Not, using fuzzy math with ‘cuts’ in defense spending that wasn’t going to be spent.”
“The contrast between the so-called super committee’s goal and Paul’s plan shows how pathetic official Washington’s gestures of fiscal responsibility are,” observed Jacob Sullum. “Paul’s detailed numbers refute the myth that the budget cannot be balanced without raising taxes while challenging his opponents to put up or shut up.”
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Photo of Ron Paul: AP Images