Monday, January 24, 2011

A Blueprint To Cut $2.5 Trillion

The Republican Study Committee released a blueprint last week on how the federal government could cut $2.5 trillion of spending from the federal budget over the next 10 years.

The RSC is the Caucus of House Conservatives chaired by Congressman Jim Jordan of Ohio.

Some of items that are suggested for spending cuts...

Eliminate all remaining "stimulus" funding                                                       $45 billion total savings
Eliminate federal control of Fannie Mae and Freddie Mac                             $30 billion total savings
Cut federal travel budget in half (take the train?)                                               $7.5 billion annual savings
Amtrak subsidies                                                                                                             $1.6 billion annual savings
Require collection of unpaid taxes by federal employees                               $1.0 billion total savings
Prohibit taxpayer funded union activities by federal employees                   $1.1 billion annual savings
Corporation for Public Broadcasting subsidy                                                     $445 million in annual savings
National Endowment for Arts and Humanities                                                   $335 million in annual savings

Go to this article in US News to get the full list.  It is eye-opening to see how much money is being spread around.  In researching this topic it is also evident how entrenched all these groups are in keeping the money coming their way.  Many have placed articles saying how horrible it is to even suggest looking at them.  There is a lot of work ahead considering that even if all of these cuts were made it would be only a fraction of what is necessary to close the federal budget deficit.

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