Ron Paul Unveils Plan to Cut $1T From Budget Foreign aid and education department would be history By Neal Colgrass, Newser Staff Posted Oct 17, 2011 5:25 PM CDT 168 comments Comments Ron Paul has rolled out his plan to cut $1 trillion from the federal budget in a single year. (Getty Images) (Newser) – Ron Paul may have turned up the heat on fellow Republican candidates today by unveiling a plan to cut $1 trillion from the federal budget—in a single year, the Washington Post reports. In a Las Vegas speech, Paul said he would: End the Afghanistan and Iraq wars, cut all foreign aid, and eliminate five Cabinet departments—including Energy and Education. Dispose of the Transportation Security Administration, which was fashioned after 9/11, and return "responsibility for security to private property owners." Freeze spending in all other departments. Paul's other ideas echo current Republican plans, such as cutting corporate taxes to 15%, ending the estate tax, and extending the Bush tax cuts. Needless to say, ObamaCare and Wall Street regulation would also be history. Stuck in fourth place among GOP presidential hopefuls, Paul's ideas resonate with certain conservative voters and could influence tomorrow night's Republican debate, analysts say.