• Making the Big Cuts

      Reuters reports that President Obama is "expected to use [tomorrow's State of the Union] address to cast himself as more of a fiscal hawk". I'm interested to see how the president plans to achieve this, given his fondness for spending borrowed money--or, "investing" to use the president's euphemism.

      So, I'll host a special Live edition of STOSSEL on FBN Tuesday night at 11pm ET, after Neil Cavuto wraps up coverage of the address and Rep. Paul Ryan's Republican Response. I'll get reaction from Rep. Ron Paul, former New Mexico Governor (and potential presidential candidate?) Gary Johnson, Cato's David Boaz and Nicole Kurokawa from the Independent Women's Forum.

      Then, on our regular night (Thursday at 9pm & midnight ET), I'll look at what cuts the president actually offers ... vs. what I'd cut.

      One thing the president is not expected to cut is the bloated Department of Education. In fact, it looks like he plans to increase it. Why? Federal education spending has tripled since the department was created in 1979, but test scores have remained flat. The evidence is clear that throwing more money at the government monopoly not helped improve public education.

      Mr. President, please. Stop. Just get rid of the Department of Education. Cutting it would save $106 billion per year. Education is a local responsibility.   It's insane to take money from states... only to launder it through Washington and then return it to states.

      No need to stop there. Eliminating the Department of Agriculture saves $131 Billion per year. Closing HUD saves $63 Billion. The Cato Institute has identified more than $500 Billion in annual budget cuts -- and they're only halfway through the budget. The Heritage Foundation has more suggestions, like repealing $60 Billion in unspent stimulus money. None of this even touches the ticking-time bombs of Social Security and Medicare.

      I'll get into all of that on Thursday's program.

      TAGS
      Economics
      Education
      Fox Business Appearances
      Government
      Politics