Republican presidential candidate Ron Paul on Monday unveiled a plan to cut $1 trillion from the federal budget within one year by eliminating a handful of federal departments, including the Energy and Education departments.

Paul's plan would shape the federal government to fit the Texas Republican's small-government, federalist views, slashing remaining department budgets, immediately ending all war spending, eliminating programs viewed as unnecessary, sending control over programs like Medicaid to the states, scrapping significant regulations and cutting taxes.

An executive summary of Paul's plan calls it "bold but achievable" by embracing "the bully pulpit of the presidency" and "the power of the Veto."