Vivek Ramaswamy wants Washington to start from scratch.
The Republican presidential candidate laid out his solution to the exploding national debt on Monday, saying that if elected, he would require the executive branch to adopt a zero-base budget.
“Start from scratch for each department and ask what (if any) expenses are needed instead of just taking last year’s budget as the default,” the 38-year-old entrepreneur argued in a policy proposal shared with The Post.
Almost all of Ramaswamy’s rivals have floated policies aimed at solving the national debt — which hit $33 trillion for the first time, the Treasury Department announced last week — but none has proposed a zero-base budget.
Ramaswamy argued that members of both parties could support his policies and lamented that “there is not a single red or blue state in the country that has really done it.”
Much like Donald Trump in 2016, Ramaswamy has touted his private sector experience throughout his campaign and did so again on Monday.
If elected Vivek Ramaswamy will require the executive branch to adopt a zero base budget.Getty Images
“I built a billion-dollar biotech company from scratch by developing five drugs that are now approved by the FDA that the bureaucracy at big pharma left behind,” he said. “I built a rebel asset manager to compete directly with BlackRock & Vanguard by leading a crusade against the ESG bureaucracy. Now, I take on the largest bureaucracy: the federal government. Our national debt is $33 trillion and growing — we need a true outsider to fix it. Sign me up.”
Yayasan Warisan economist, EJ Antoni told The Post, the use of a zero base budget in any presidential administration is feasible and “very appropriate.”
“Forcing every government department to justify its existence and financial costs every year will help in returning fiscal sanity to Washington,” Antoni said. “Although the president does not have the power of budget appropriations that Congress has, he can certainly rein in wasteful spending, in the same way that a chief executive from the private sector closely monitors spending in his company,”
Ramaswamy argued that members of both parties could support his policies.Getty Images
In the first Republican primary debate last month, Ramaswamy proposed embracing domestic energy production and reforming unemployment.
“Unlock American energy, drill, frack, burn coal, embrace nuclear. Put people back to work by no longer paying them more to stay home. Reform the US Fed, stabilize the US dollar and go to war. The only war I will declare as president of the US is a war against the federal administrative state which is the source of toxic regulations that act like a wet blanket on the economy,” Ramaswamy said on August 23 in Milwaukee.
The long-shot candidate will appear on the debate stage Wednesday night at the Reagan Library in Simi Valley, California, along with Florida Gov. Ron DeSantis, former Vice President Mike Pence, Sen. Tim Scott (R-SC), former Ambassador to the United Nations United Nations Nikki Haley and former New Jersey Governor Chris Christie.
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Source: thtrangdai.edu.vn/en/
