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Senator Rand Paul (R-KY) has introduced a plan to slash federal spending and balance the budget within five years; the Kentucky Senator’s bill includes trillions in budget cuts —he says we can’t ignore the problem any longer.

“Five years ago, we could balance our budget with a freeze in spending. Not cut anything. Since then, our debt has skyrocketed to $30 trillion with $2 trillion just from this past year,” Paul said in a statement. “We cannot keep ignoring this problem at the expense of taxpayers, and my budget will put our nation on track to solve this crisis that Congress created.”

According to Fox News, “The Kentucky Republican’s proposal, a copy of which was first obtained by FOX Business, would yield a $65.8 billion surplus by fiscal year 2027. Collectively, the plan spends about $4.2 trillion less than the nonpartisan Congressional Budget Office estimated during that time period, a person familiar with the matter said.”

“The plan calls for cuts across the budget, excluding Social Security, which is racing toward insolvency. What is cut will be determined at a later time through the normal spending process. The goal is to set a parameter that Congress must fit its spending agenda within, rather than identifying specific cuts now.”

The COVID spending spree currently has America in more than $30 trillion dollars in debt —an historic high.

“CBO’s newest budget projection illustrates the government’s fiscally perilous path. Without a change of course, trillions will be added to the debt, a burden being unfairly dumped onto future generations of taxpayers. Senator Paul’s Six Penny Plan approach would take smart, incremental steps towards fiscal responsibility by cutting 6 cents for every dollar of spending, while also preventing tax hikes, and making much-needed reforms to the budget and scorekeeping process,” said Demian Brady, Vice President of Research at the National Taxpayers Union Foundation.