Washington, Sep 26 (PTI) Republican presidential candidate Vivek Ramaswamy has proposed a Zero-Base Federal Budgeting to solve the national debt crisis, which has now gone up to USD33 trillion.

The US national debt crisis is real and will take a CEO from outside of politics to fix it, he said on Monday.

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"Here's how we fix the debt crisis: zero-base budgeting. Start from zero for every department and ask what (if any) spending is required instead of just taking last year's budget as the default," Ramaswamy said.

That is how any good CEO would handle this mess, and it is something that both Republicans and Democrats can get behind, he added.

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"Unfortunately, there isn't a single red or blue state in this country that actually does it," Ramaswamy added.

"I built a multibillion-dollar biotech company from scratch by developing five medicines now FDA-approved that the bureaucracy in big pharma abandoned," he said.

"I built an insurgent asset manager to compete head-on with BlackRock and Vanguard by leading the crusade against the ESG bureaucracy. Now, I'm taking on the biggest bureaucracy of all, the federal government.

"Our national debt is at USD33 trillion and rising — we need a true outsider to fix it. Sign me up," the Indian-American Republican presidential aspirant said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)