Government
Conservatives Begin to Cozy-Up to Connie Mack's 'Penny Plan'
John Barrasso, NTU and FreedomWorks sign off on plan to reduce spending and balance the budget
Around the State
Connie Mack | Credit: Gage Skidmore, FlickrThe proposal, which is being sponsored in the U.S. Senate by Republican Mike Enzi of Wyoming, also has the backing of tea party favorite U.S. Sen. Rand Paul, R-Ky., and three of Mack’s Sunshine State Republican colleagues in the House: Jeff Miller, Dennis Ross and Allen West. It would mandate a 1 percent reduction in federal spending from 2012 until 2017, before imposing a spending cap in 2018. That cap would mandate the total cost of the federal government not to exceed 18 percent of the total Gross Domestic Product. Enzi maintains that the proposal, which backers have labeled the Penny Plan, would cut $7.5 trillion from the federal government over the next decade.
On Friday, Enzi’s Republican colleague from Wyoming -- U.S. Sen. John Barrasso -- said he was backing the proposal.
“As more and more senators voice their support of the Penny Plan, it is becoming clear that a core of fiscally conscious conservatives are willing to do what it takes to stop the out-of-control, reckless spending in Washington,” insisted Mack on Friday. “Senator Barrasso knows that we must get serious about our debt crisis, which every day threatens to destabilize our economy even further. When it comes to Washington’s budget woes, voters have repeatedly said ‘enough is enough.’ I am proud that Senator Barrasso has joined us in this fight for a return to fiscal sanity.
“At a time when so many in our nation are hurting financially, the federal government needs to do its part to cut spending,” added Mack. “The Penny Plan is a straightforward answer to our nation’s overspending problem that asks government to eliminate only one penny from every dollar it spends -- a simple solution that all Americans can rally behind.”
The proposal also won the backing of the conservative National Taxpayers Union (NTU) and FreedomWorks, a Washington-based tea party movement organization led by former U.S. House Majority Leader Dick Armey.
“The One Percent Spending Act is a valuable component of a comprehensive ‘cut, cap and balance’ approach that addresses our immediate needs for spending restraint as well as our enduring structural weaknesses,” said Brandon Greife of NTU. “NTU is pleased to endorse this legislation and any roll call votes will be significantly weighted in our annual Rating of Congress.”
“Washington is on an unprecedented spending binge. Our national debt has skyrocketed to nearly $14.4 trillion. The Republican Study Committee has listed the One Percent Spending Reduction Act as a bold solution in their ‘cut, cap and balance’ proposal letter to House leadership,” noted Matt Kibbe of FreedomWorks. “The letter states that it would be fiscally irresponsible to raise the debt ceiling without immediate spending cuts, enforceable total-spending caps and a balanced budget amendment. Rep. Mack’s ‘Penny Plan’ should be considered as the second part of the RSC’s ‘cut, cap, and balance’ approach for the debt ceiling in order to put federal spending on the path to a balanced budget.”
“The support for the Penny Plan is continuing to grow across the country, today gaining support from the National Taxpayers Union, as we draw closer to President Obama’s Aug. 2 debt-ceiling deadline. Every time Washington spends more money, our freedom and security are in jeopardy. Voters have continually said ‘enough is enough’ when it comes to Washington’s appetite for spending, and it is time Congress listens,” said Mack. “ I am proud to have the support of FreedomWorks and the great work of their chairman, leader Dick Armey. Our deficits and debt hang around us like an albatross, and last November American voters sent a clear message to their elected officials that ‘enough is enough’ when it comes to Washington’s appetite for spending.”
Comments (4)
Even under the most conservative estimates, Social Security, Medicare, and Medicaid are going to grow by 3.5 trillion dollars between now and 2016 simply due to the vast numbers of baby-boomers who are retiring and becoming eligible for benefits during that period.
The only way this plan could work would be to tell current recipients they are going to take a 1% cut in their SS payments every year for the next six years–even worse, newly eligible persons would be told, “Sorry, we have to cut current Social Security spending levels by an actual 1% each year for the next six years. You get nothing.”
Now factor in the military. Last night, GOP members of the Armed Forces Committee tore into the proposed “massive cuts” to the military budget in the Reid bill. Of course, they are not really cuts at all, they are merely reductions in the rate of increase. The military budget would still rise by multiple billions every year. You can forget any 1% cut there.
So we’re already talking about far more than half the federal budget which will never take 1% cuts–indeed, they will both grow by more than 1% every year. The “Penny Plan” is not simple, it’s merely simplistic.
Destroying life and liberty are arguable, but again, the more people a political party or individual can bring under it's wing, the more successful it will be. I think the people who vote for them are either very dumb, or very smart, thinking others will pay the tab eventually.
I do hope with recent debate over debt ceiling, we can start working to balance the budget and eventually pay down the debt.
We need tax reform, let the Bush tax cuts expire when the time comes, freeze spending, penny plan is good, healthcare reform, loopholes, subsidies, all new revenue over frozen, reduced budget should be applied to deficit/debt.
making 200,000.00 or more (SO CALLED RICH PEOPLE).
Three trillion - results from the people making less than 200,000.00
We better be careful.