Rand Paul (the only candidate to whom I sent contributions in 2010, even though I am not a Kentuckian) proposes the beginnings of a Rollback of the Federal Leviathan.
From the Wall Street Journal, a new generation of Paul leadership has "arrived":
My proposal would first roll back almost all federal spending to 2008 levels, then initiate reductions at various levels nearly across the board. Cuts to the Departments of Agriculture and Transportation would create over $42 billion in savings each, while cuts to the Departments of Energy and Housing and Urban Development would save about $50 billion each. Removing education from the federal government's jurisdiction would create almost $80 billion in savings alone. Add to that my proposed reductions in international aid, the Departments of Health and Human Services, Homeland Security and other federal agencies, and we arrive at over $500 billion.
My proposal, not surprisingly, has been greeted skeptically in Washington, where serious spending cuts are a rarity. But it is a modest proposal when measured against the size of our mounting debt. It would keep 85% of our government funding in place and not touch Social Security or Medicare. But by reducing wasteful spending and shuttering departments that are beyond the constitutional role of the federal government, such as the Department of Education, we can cut nearly 40% of our projected deficit and at the same time remove thousands of big-government bureaucrats who stand in the way of efficiency."