The Trump administration on Wednesday was urged to move on a list of massive federal budget cuts already identified by federal authorities that could save over $3 trillion and cut the deficit by nearly 15 percent.
The taxpayer’s watchdog group Citizens Against Government Waste listed 636 recommendations in its new “Prime Cuts 2018” report that would save $429.8 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. 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,” said CAGW President Tom Schatz.
By following the blueprint provided by @GovWaste’s Prime Cuts 2018, wasteful government spending can be reined in. https://t.co/eQKTqDEXc3 pic.twitter.com/O55EKqNKZ3
— Thomas A. Schatz (@TomSchatzCAGW) September 26, 2018
While other groups work up their own ideas of where cuts should come, CAGW has a unique approach: list the cuts already proposed by federal agencies and authorities including presidents and the General Accountability Office.
The group also has a strong track record. Since its inception in 1984, cuts made on its recommendations have saved taxpayers more than $1.8 trillion.
Below are some of the examples highlighted by the group from its Prime Cuts 2018 report:
- Eliminate the Market Access Program (MAP), a corporate welfare program that funnels taxpayer dollars to large, profitable corporations and trade associations. Eliminating MAP would save nearly $1 billion over five years.
- Eliminate the $2.7 billion earmark in FY 2018 for the F-35 Joint Strike Fighter program. The F-35 is currently more than $170 billion over budget and on pace to become the most expensive weapon system in history, including an estimated lifetime cost of $1 trillion for operation and maintenance.
- Cutting funds for the Community Development Block Grants (CDBGs), which has bipartisan support. Former President Obama recommended reducing funding for CDBGs because, “the demonstration of outcomes [is] difficult to measure and evaluate,” and President Trump’s FY 2019 budget would eliminate the grants altogether, saving $3 billion in one year.
- Eliminate the sugar, dairy, and peanut programs, which would collectively save nearly $1.5 billion in one year.
- Suspending federal land purchases, which would save $466 million in the first year.
- Repeal of the Davis-Bacon Act, which would save $512 million in one year.
- Reducing Medicare improper payments by 50 percent and increasing the use of software asset management tools, which would also save taxpayers billions of dollars.
