David Stockman's book, "How To Cut $2 Trillion," presents a plan to reduce federal spending by terminating certain government agencies. The proposal suggests that eliminating unnecessary bureaucracies can save significant taxpayer money.
• Savings Target: The objective is to achieve $2 trillion in savings, with $400 billion aimed from slashing federal payroll and bureaucracy.
• Federal Employee Costs: Nondefense employee compensation is estimated at $215 billion in FY 2029. The plan suggests that cutting 40% of nondefense payroll costs could save $85 billion.
• Proposed Staff Reductions: To meet this target, it is hypothesized that 535,000 federal jobs could be eliminated.
• Agencies to Eliminate: The initial focus is on the 16 most unnecessary federal agencies, which together would save about $11. 1 billion annually by cutting 71,000 jobs.
• Further Cuts: Additional staff reductions in nine dubious agencies could save around $15 billion.
Breakdown of Agency Cuts:
1. National Endowment for the Arts: 100 staff, $16 million savings.
2. National Endowment for the Humanities: 100 staff, $16 million savings.
3. Legal Services Corporation: 800 staff, $128 million savings.
4. National Highway Traffic Safety Administration (NHTSA): 600 staff, $96 million savings.
5. Federal Trade Commission (FTC): 1,125 staff, $180 million savings.
6. Corporation for Public Broadcasting: 100 staff, $16 million savings.
7. OSHA: 2,200 staff, $352 million savings.
8. Consumer Product Safety Commission: 600 staff, $96 million savings.
9. Agency for Global Media: 1,125 staff, $180 million savings.
10. National Endowment for Democracy: 162 staff, $26 million savings.
11. Department of Education: 4,245 staff, $680 million savings.
12. Consumer Financial Protection Bureau: 1,500 staff, $240 million savings.
13. Agency for International Development (AID): 10,000 staff, $1. 6 billion savings.
14. FBI: 34,000 staff, $5. 4 billion savings.
15. BATF: 5,300 staff, $848 million savings.
16. DEA: 9,315 staff, $1. 49 billion savings.
• Overall Savings from Eliminating 16 Agencies: Total savings amount to $11. 3 billion.
David Stockman's proposal outlines a systematic approach to cut federal spending dramatically by terminating inefficient agencies. The suggestions aim to streamline the government while potentially preserving essential functions handled more effectively at local and state levels. If the outlined agencies can be removed, it may serve as a litmus test for broader fiscal reforms necessary to address the nation's growing debt crisis.
https://brownstone.org/articles/slash-the-fat-16-agencies-to-terminate/
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