ScreamingEagle
Gold Member
- Jul 5, 2004
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What rational person couldn't get behind this plan? Congressman Connie Mack's (R-FL) plan is simple yet effective...it begins after stopping all automatic 7% baseline increases...then just takes only one penny (1%) per dollar off the budget per year...
The Penny Plan balances the budget by:
◦Cutting total federal spending by one percent each year for six consecutive years,
◦Setting an overall spending cap of 18 percent of gross domestic product in 2018, and
◦Reducing overall spending by $7.5 trillion over 10 years.
If Congress and the President are unable to make the necessary cuts, the bill’s fail-safe triggers automatic, across-the-board cuts to ensure the one percent reductions are achieved.
Mack added, “At a time when so many in our nation are hurting financially, the federal government needs to do its part to cut spending. The Penny Plan is a straightforward answer to our nation’s over-spending problem that asks government to eliminate only one penny from every dollar it spends—a simple solution that all Americans can rally behind.”
The Mack Penny Plan Gains More Momentum in the U.S. Senate | NEWS.GNOM.ES
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