Taxpayers Could Save Trillions If Congress Follows This Plan
A government watchdog group released a plan Wednesday that could save taxpayers trillions over the next five years by reining in the excesses of the Washington, D.C., swamp that have continued to fester under President Donald Trump’s watch.
Citizens Against Government Waste (CAGW) offered 636 recommendations in its Prime Cuts 2018 report that, if enacted, would save taxpayers $430 billion in the first year and $3.1 trillion over five years.
“As the U.S. budget hurdles toward trillion-dollar deficits and with the national debt exceeding $21 trillion, Prime Cuts 2018 is needed now, more than ever,” CAGW President Tom Schatz said in a statement. “The only way to put our country on a path toward fiscal sanity is for leaders to make bold decisions to reduce waste, fraud, abuse, and mismanagement; and Prime Cuts 2018 is an invaluable resource for them to achieve that objective.”
If enacted, the group’s recommendations would substantially reduce the federal budget deficit, which has climbed to $895 billion, a 32 percent increase over the first 11 months of fiscal year 2017. (RELATED: Federal Deficit Jumps 32 Percent Amid Booming Economy)
Highlights of the watchdog’s savings plan include an elimination of the Market Access Program, a corporate welfare program that funnels millions to corporations and trade associations to assist in promoting American products overseas. The elimination of the program would save nearly $1 billion over five years, according to the watchdog group.
The watchdog also urged Congress to rein in spending for the F-35 Joint Strike Fighter program, which is already $173 billion over budget and seven years behind schedule.
A 50 percent reduction of improper payments connected to fraud, waste, abuse and mismanagement of Medicare would save taxpayers $18.1 billion over the next five years, the group added.
Recommendations put forward by CAGW have saved taxpayers more than $1.8 trillion since its inception in 1984.
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