Paul proposes to cut $500 billion in federal spending

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By Marisela Burgos - bio | email

LOUISVILLE, KY (WAVE) - A political rookie has a proposal he believes will help tighten Washington's spending. Senator Rand Paul (R-KY) announced a proposal to cut $500 billion in spending in one year. His proposal would slash $42 billion from the federal food stamp program and would eliminate a number of programs including the Consumer Product Safety Commission, National Endowment for the Arts, and the Corporation for Public Broadcasting.

It is only the first step, yet it is far beyond anything the Democrats seem ready to embrace.

"It's time to get serious," Paul said. "Let us hope the debt crisis will be managed before we destroy this great country, before we destroy the American dream to hope to pass on our kids and grand kids," Paul said.

While many Kentuckians did not want to share their opinion about the topic, Neil Aho says he doesn't know if Paul's plan is the best option.

"I know everybody wants a balanced budget," Aho said. "Everybody wants to see the federal government stick within its means, but you know we can't do that at the cost of everyday ordinary Americans."

A new report from the Congressional Budget Office warns America's deficit is growing by 40 percent this year to an estimated $1.48 trillion.

Paul suggests his proposal would also push back federal spending to 2008 levels.

President Barack Obama has promised a 5-year freeze on some spending.