Wait a minute...let's not be so quick to throw this out.
Yes, at first crime will be rampant, but very quickly people will figure out what they should have known for years: Self-defense is a DIY kind of thing. They will start arming themselves, and training to be ready. Inside of a few years the level of casualties will start to simmer down, and people will discover cops aren't really good for more than just writing tickets and processing crime scenes anymore, and they won't like the tickets so there will be wholesale layoffs at the cop shops.
Eventually we'd be like it was before we had a standing police army. I can hear the liberals crying about how we have returned to "Dodge City," but I'd remind them crime was low in Dodge City.