The Independent Voice for Conservative Values and the Conscience of the Conservative Movement Less Government is the Best Government |
||||
Let’s Get Serious About Cutting The Federal Budget and the National Debt
By Scott Rohter, February 2011
The CATO Institute’s Report, Downsizing the Federal Government recommends that the following steps be taken to reduce the size of the Federal Government, and to reduce our national debt and annual deficits.
CATO Institute’s Report - Recommendation with Notes | Total Annual Savings |
|
Rec #1 | Eliminate Dept. of Energy (DOE) established under Jimmy Carter. Terminate federal research grants and subsidies. Defense related activities to be merged with DOD. |
$17 billion or $150/household |
Rec #2 | Eliminate Dept. of Education established under Jimmy Carter. Terminate grants to state and local governments. Return the education of our children and the funding of their education to local control. There has been no corresponding improvement in educational achievement over the years as a result of increased federal intervention. Top down approach stifles innovation and perpetuates mediocrity. |
$107 billion or $900/household |
Rec #3 | Eliminate Dept. of Housing & Urban Development (HUD) created 1965 under LBJ • Misappropriation of public funds • Better left to local governments • Has created more problems than it has solved |
$63 billion or $530/household |
Rec #4 | Downsize Dept. of Agriculture by 90% created 1862 under Abraham Lincoln, but has grown drastically in size and scope since then.
Eliminate all functions except for inspecting food, animals, and plants entering the US from foreign countries. |
$131 billion or $1,100/household |
Rec #5 | Downsize Dept. of Health and Human Services (HHS) by 10%. Recreated in 1980 from the Dept. of Health Education and Welfare. • Repeal Obama Care • Fix Medicare (created in 1965 under LBJ). -Replace Medicare with a system of individual vouchers and Health Savings Accounts (HSA’s). |
$81 billion or $680/household |
• Fix Social Security (created in 1935 under FDR). -Index Social Security benefits to prices instead of wages. |
$60 billion additional savings or $500/household |
|
Total estimated annual savings if all of these recommendations are enacted is: | $459 billion or $4000/household |
"The truth, the political truth, and nothing but the political truth. A journalist has no better friend than the truth." - Scott Rohter |
|