The One Cent Solution, The Mack Penny Plan

By Melody Kite, US Daily Review Contributor

Congressman Connie Mack, R, from the 14th Congressional District in Florida has introduced The Mack “One Percent Spending Reduction Act of 2011” (H.R. 1848). This brilliant, elegant, beautifully simple plan is one that is not only fiscally sound, but easy to understand.

From Congressman Mack’s website, here is his brief synopsis of the bills key provisions:

One Percent Spending Reduction per Year: The Mack One Percent bill cuts total spending – mandatory and discretionary – by one percent each year for six consecutive fiscal years, beginning in fiscal year 2012.

•FY 2012 – $3.382 trillion*, less one percent => $3.348 trillion cap
•FY 2013 – $3.348 trillion, less one percent => $3.315 trillion cap
•FY 2014 – $3.315 trillion, less one percent => $3.282 trillion cap
•FY 2015 – $3.282 trillion, less one percent => $3.249 trillion cap
•FY 2016 – $3.249 trillion, less one percent => $3.216 trillion cap
•FY 2017 – $3.216 trillion, less one percent => $3.184 trillion cap

Overall Spending Cap in FY 2018: The bill sets an overall spending cap of 18 percent of GDP beginning in fiscal year 2018.

Enforcement of Spending Cuts: The one percent spending cuts would be achieved one of two ways: either 1) Congress and the President work together to enact program reforms and cut federal spending by one percent each year; or 2) If Congress and the President fail to do so, the bill triggers automatic, across-the-board spending cuts to ensure the one percent reduction is realized.

*Congressional Budget Office March 2011 Baseline for Total Outlays minus Net Interest

Furthermore it lays out a clear plan to bring this nation out of economic chaos and to clear fiscal solvency, by paying off our Nation’s colossal debt.

In it’s purest essence, the Mack 1% bill works by subtracting one cent from each federally budgeted dollar. All of those Pennies are then applied to the deficit.  The deduction of that one percent also forces a decrease in the baseline budget of those federal dollars for the following fiscal year.  This amount may sound minuscule but one cent begins to add up when those pennies are taken from a budget of trillions. (For those of you who, like me, are mathematically challenged, it is a savings of 10 Billion dollars for every 1 Trillion dollars spent). The amount left after the penny per dollar deduction is then used to form an automatic cap for the following years budgeting.

The One Percent Spending Reduction Act of 2011” (H.R. 1848) is a piece of legislation Ben Franklin and Abraham Lincoln would have embraced.  Imagine what a 2-cent solution would do.  It is easy to see from this bill that indeed a penny saved is a penny earned.

It is doubtful that the “tax and spend” Democrats in the Senate would ever allow this efficient bill out of committee or support it, much less pass it into law.  Should this plan ever pass both houses and reach President Obama, would he exercise his veto?

Obama’s only solution to this nation’s difficulties is throwing trillions of dollars at America’s problems.  Obama’s consistent choice is to raise taxes and spend money this nation does not have.  No President in this nation’s history has squandered more tax dollars on Agenda driven nation-breaking programs than Obama.

All of the official information regarding “One Percent Spending Reduction Act of 2011” (H.R. 1848) can be found at the Library of Congress.  Since being introduced on May 11, 2011 the Mack Bill has gained 46 Co-sponsors.

The following Organizations support H.R.1848, National Taxpayers Union, One Cent Solution, and Freedom Works.  This list needs to be longer!  If your favorite conservative organization does not back this sound and simple plan it is time to urge the Board of Directors to support this bill.

It is left to “We the People” to pressure each of our Representatives and insist that this uncomplicated simple solution is passed by both houses with a VETO proof vote that insures it’s passage into law.  We owe massive debt to nations whose policies; governments and ideals are diametrically opposed to our Founding Principles.  I say that owing this debt to nations that do not have our best interest at heart is not only a bad idea, but also an untenable position for our nation.

8/5/2011 To show your support for the One Cent Solution please sign up At the One Cent Solution Action Center that can be found here: http://www.onecentaction.org/

If not now, when will our elected officials, protect this nation with fiscal solvency?

Congressman Connie Mack was elected to the United States House of Representatives in November 2004 and represents Florida’s 14th Congressional District.  He serves on two committees: Foreign Affairs and Oversight and Government Reform. Prior to his election to the United States House of Representatives, Mack was a member of the Florida House of Representatives from 2000 to 2003, and was named Deputy Majority Leader in his second term.

Mack’s previous business experience was as a business executive with Fort Myers-based LTP Management and later a independent business and marketing consultant.

Connie Mack is a Florida native,and graduated from the University of Florida. He is the son of former U.S. Senator Connie Mack and Priscilla Mack.

Mack is married to Congresswoman Mary Bono Mack. He has two children, Addison and Connie, and two stepchildren, Chesare and Chianna.

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Melody Kite, is a 4th Generation Texan, grown up Army brat, with a fine arts degree. She is delightfully married to Mr. OK, (his initials), and the proud friend and stepmother of his 3 children and 1 grandchild.  Melody is a Conservative, politically active, Christian, baby boomer, and semi-retired Interior designer who still accepts referrals. Melody loves her husband, his children, her family, and Country.  She is active  member of many Tea Party groups. 

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.

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