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Senate Fiddles While Our Fiscal House Burns

May 17, 2012One Cent Solution

The same week the Senate – for the third year in a row – refuses to take up and adopt a budget resolution, Moody’s Rating Service issued a report that repeats its negative outlook for US debt. The irony couldn’t be more tangible. Faced with a fiscal crisis of historic proportions, as evidenced by the unprecedented downgrade of the debt outlook, the leadership of… Read more >

“This is the sort of proposal that Ronald Reagan might well have championed!”

May 10, 2012One Cent Solution

“This is the sort of proposal that Ronald Reagan might well have championed!”
Jim Miller, Former Budget Director for President Ronald Reagan

On April 26 I attended an exciting meeting at the Kennedy Caucus Room of the Senate Russell Building in Washington D.C.  Our “Penny Plan” sponsors in the House and Senate, Congressman Connie Mack (R-FL) and Senator Mike Enzi (R-WY) were joined by… Read more >

Two Leading Economists Support One Cent Solution/Penny Plan in Washington Times Op-Ed

April 30, 2012One Cent Solution

Finally, Penny Plan allies Jim Carter, former deputy secretary of the Treasury under President Bush and Jason Fichtner, former acting deputy commissioner of Social Security and fellow at George Mason’ University’s Mercatus Center penned an op-ed in the Washington Times on Monday highlighting the effectiveness of the Penny Plan.  According to the authors:

Any viable solution must cut spending growth. Sen. Mike Enzi… Read more >

Happy Tax Week

April 18, 2012One Cent Solution

It’s Tax Week and both houses of Congress are focused tax issues — the House is scheduled to vote on a plan to cut them for small businesses, while the Senate will vote on a plan to raise them for millionaires.

What’s lost in both these debates is the notion of what’s the appropriate role for tax policy in deficit reduction?  The One Cent… Read more >