It calls for rescinding all funds to the Consumer Product Safety Commission (that's the agency that offers protection from unsafe cribs and lead paint). It dramatically reduces spending to nearly every government agency. It rescinds most of the Department of Energy's funds and transfers the remaining dollars and accounts to the Department of Defense.
Paul would reduce Health and Human Services funding by over $26.5 billion, including over $5.8 billion in reductions for the National Institute of Health. He'd slash defense spending by over $47 billion, and defund all Department of Education programs immediately, while capping Pell grants at just over $16.2 billion. He does not, however, propose to touch Social Security between now and the end of the fiscal year.
Paul's office was not immediately available for comment Tuesday evening. But a plan like this was the essence of his, and other tea party-backed campaigns in 2010.
You can read the entire proposal here.