The RSC has recently published two proposed laws which constitute credible alternatives to Obama’s socialist policies. These proposed laws are:
1) The Economic Freedom Act – a draft law which would completely repeal the pseudostimulus (thus saving $568 bn) and the TARP program (thus saving $368.8 bn); reduce the corporate income tax rate from 39% (the second-highest rate in the world) to 12.5% (the Irish rate); eliminate the death tax; patch the AMT; make the 2003 tax reductions permanent for all taxpayers; and halve payroll taxes.
2) The RSC’s alternative federal budget plan for FYs2011-2020. It would reduce the deficit every fiscal year and balance the budget by FY2019. It would eliminate many unneeded (wasteful, obsolete, duplicative or detrimental) programs and agencies and partially privatize the TVA while eliminating the money defrauded every year from the DHHS and the Medicare program, repealing Obama’s socialized medicine scheme entirely, reforming tort law, opening the ANWR, repealing the TARP program, repealing the pseudostimulus, and eliminating various subsidies. It would accomplish all of this while patching the AMT.
So far, the Democrats have utterly failed to submit or pass any budget for the federal government, but the RSC has already submitted such a budget. And this budget, unlike Obama’s budget plan, will not grow deficits nor the public debt, but rather balance the budget by FY2019.
The RSC’s proposal is admirable: it would balance the federal budget while protecting the defense budget (and, as a result, the US) and lowering taxes for all Americans (thus allowing the economy to rebound).
But the RSC’s proposal is inadequate. It won’t close any government department or any big agency, and it won’t privatize anything. It would not be a significant reduction of the size of the federal government.
So I’d suggest the following additions to the RSC’s proposed budget:
1) Privatize all government-owned corporations, including Amtrak, the TVA, the CPB, the US Postal Service, the St Lawrence River Development Corporation, the Millennium Challenge Corporation, AIG, Citigroup, GM and GMAC.
2) Abolish the Education Department, which Ronald Reagan tried to abolish.
3) Abolish the EPA, which is trying to impose decrees unapproved by the Congress to the American people.
4) Don’t allow the cost of the Medicare program to grow. Reduce the annual cost by $60 bn (by eliminating the money stolen every year by conmen).
5) Don’t allow the cost of the Medicaid program to grow. Reduce the annual cost by $120 bn (by eliminating the money stolen every year by conmen).
6) Open the OCS and the Rocky Mountains to drillers, thus vastly increasing federal revenue.
7) Abolish the Department of HUD, the Department of Commerce and the Department of Agriculture..
8) Abolish the Federal Housing Administration, the Federal Transit Administration, the NIRB, the Americorps, the Serve America Act, and the FAWS of the DOI.
9) Privatize ALL unneeded federal property, not just a part of it. By this, I mean only unneeded federal property (e.g. unneeded land and unneeded buildings).
10) Institute a federal pay freeze and a federal worker hiring freeze.
11) Replace only 50% of retiring federal workers.
12) Reduce the federal budget not by 20%, but by 50%.
13) Reduce the number of layers of the federal government.
14) Restore the welfare roll reform law of 1996.
15) Reduce the number of Congressional committees and Congressional staffers.
16) Merge the CBP with the ICE and the USCIS, abolish all wasteful programs of the DHS (including all grants to the states), and reduce the DHS’s total annual budget by $4.1 bn (10%).17) Reduce the budget of the State Department by 50% on top of the RSC’s proposed spending cuts (i.e. by $12 bn) by closing the ACDA and by ending all foreign aid programs except the FMF program. 18) Abolish the BATF, the DEA and the FDA. 19) End the war on drugs. 20) Abolish the “US Institute for Peace”, the Federal Trade Commission, the Intl Trade Commission, the Equal Opportunity Commission, TV Marti, and the SA&MH program of the CDC. 21) Deny funding for the UN. 22) Reinstate and codify the Mexico City policy.