Rand Paul's Plan to Balance the Budget in 5 Years

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Senator Rand Paul introduced a balanced budget resolution in the Senate last week.

In it, he proposes eliminating the Departments of Energy, Education, Commerce, and Housing and Urban Development. Even he says it's a drastic way to balance the budget in five years!

"It's a trade-off," said Senator Paul. "You have to decide which is more important, the problems we're encountering from having such an enormous debt, and what happens when we can't make our payments, what kind of calamity that will cause, versus the dislocation of eliminating some departments."

Paul says there would be a $19-million budget surplus after five years if his plan is adopted. He says that's without raising taxes or changing Social Security or Medicare.

Paul also says the federal debt is costing America one-million jobs-a-year.

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