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DELIVERS A TRUE BALANCED BUDGET IN YEAR THREE OF DR. PAUL’S PRESIDENCY:

Ron Paul is the ONLY candidate who doesn’t just talk about balancing the budget, but who has a full plan to get it done.

SPENDING:

Cuts $1 trillion in spending during the first year of Ron Paul’s presidency, eliminating five cabinet departments (Energy, HUD, Commerce, Interior, and Education), abolishing the Transportation Security Administration and returning responsibility for security to private property owners, abolishing corporate subsidies, stopping foreign aid, ending foreign wars, and returning most other spending to 2006 levels.

ENTITLEMENTS:

Honors our promise to our seniors and veterans, while allowing young workers to opt out. Block grants Medicaid and other welfare programs to allow States the flexibility and ingenuity they need to solve their own unique problems without harming those currently relying on the programs.

CUTTING GOVERNMENT WASTE:

Makes a 10% reduction in the federal workforce, slashes Congressional pay and perks, and curbs excessive federal travel. To stand with the American People, President Paul will take a salary of $39,336, approximately equal to the median personal income of the American worker.

TAXES:

Lowers the corporate tax rate to 15%, making America competitive in the global market. Allows American companies to repatriate capital without additional taxation, spurring trillions in new investment. Extends all Bush tax cuts. Abolishes the Death Tax. Ends taxes on personal savings, allowing families to build a nest egg.

REGULATION:

Repeals ObamaCare, Dodd-Frank, and Sarbanes-Oxley. Mandates REINS-style requirements for thorough congressional review and authorization before implementing any new regulations issued by bureaucrats. President Paul will also cancel all onerous regulations previously issued by Executive Order.

MONETARY POLICY:

Conducts a full audit of the Federal Reserve and implements competing currency legislation to
strengthen the dollar and stabilize inflation.

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http://www.ronpaul2012.com/the-issues/ron-paul-plan-to-restore-america/

they say, “Oh, that means you want to cut defense.” No, if you cut the military industrial complex, you cut war profiteering, but you don’t take one penny out of national defense.

But we will come home, but if we do it now, calmly and deliberately, we can save our economy here at home, because there are a lot of people who are suffering here at home.

"We will balance the budget by year three without cutting from...our national defense"

How to Save the Global Economy: Cut Defense Spending

BY BARNEY FRANK

In the United States, cuts in public-sector spending have caused the loss of 550,000 public-sector jobs -- think teachers, police, and firefighters -- since January 2009, adding to the raw unemployment numbers and removing the multiplier effect that takes place when employees spend their paychecks...Yet my Republican colleagues have insisted on retaining all of George W. Bush's tax cuts, thus all but guaranteeing that future revenues will continue to fall far short of what is necessary to reduce U.S. debt and create the conditions for a strong recovery.

One major change that can reverse this: a substantial reduction in America's military spending. In the current fiscal year, the United States is spending upwards of $650 billion on its military, including the costs of the wars in Iraq and Afghanistan. This is far more than it spends on Medicare and, more importantly, considerably in excess of what is required for America's legitimate national security needs.

The United States should and will be the strongest country in the world. But it can achieve that status for significantly less than it is now spending. An early withdrawal of U.S. troops from Afghanistan over the next six months would save hundreds of billions of dollars. In addition, we could reach savings of more than $100 billion annually by adopting strategic concepts appropriate to the current world situation, rather than continuing to rack up bills fighting threats that no longer exist. We could also save tens of billions of dollars a year by curtailing our commitment to the defense of Western Europe -- which was perfectly sensible when President Harry Truman made it but is wholly inexplicable now that Europeans are wealthy, strong, and threatened by no one -- as well as by reducing our military presence in Japan and forgoing the new proposal for stationing U.S. Marines in Australia. We do not need to maintain the fighting capacity we had during the height of the Cold War to engage the Soviet Union in an all-out conflict. Terrorists are terrible people who should be confronted, but they are not a thermonuclear-armed Soviet empire. Fighting them, though in many ways more complicated, should be less expensive.

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If we commit to reducing military spending to a rate of approximately $430 billion a year over the next decade, with suitable inflation adjustments, it would do a great deal to reassure people that we had our deficit problem under control, that the long-term drain this puts on our economy would be diminished, and that we could then afford the near-term economic stimulus we need to help accelerate our currently sluggish growth.

http://www.foreignpolicy.com/articles/2012/01/03/4_cut_defense_spending