Senator Rand Paul Introduces Five-Year Budget Plan, Posted by Meosha Eaton

By Williams Ekanem, MACTV NEWS

As the talks on America’s budget deficit heighten, Senator Rand Paul has introduced a five-year budget plan to cut down deficit.

Addressing Congressional Reporters during the week on his new plan, the Republican Senator said a five- year plan to reduce deficit is more appropriate than the ten year plan earlier proposed by President Barack Obama.

 Paul’s five-year budget plan is a path to a balanced budget, which includes cutting four federal government departments: Departments of Education, Energy, Commerce and Housing and Urban Development.

The proposal also calls for the repeal of “Obamacare,” leaves entitlements untouched, and he also said he is willing to make changes to the cuts, but there will have to be cuts elsewhere.

According to Paul, the five-year budget plan brings spending near historical average in the very first year, reduces spending by nearly $4 trillion relative to the President’s budget, achieves a $19 billion surplus in FY2018 and brings all non-military discretionary spending back to FY2008 levels.

In analyzing his plan, the medical doctor turned politician said it significantly reduces spending relative to both the President’s budget and the Congressional Budget Office (CBO) baseline.

Said him, “the President’s budget never drops below 22.3 percent of gross domestic product (GDP), and the CBO baseline never gets under 23 percent of GDP, whereas this budget brings spending near the historical average of 19.6 percent of GDP in the very first-eventually getting down to 17.9 percent of GDP in 2016.”