Latest News

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 the … 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 a … 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 of Wyoming … 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 Solution … Read more >

Penny Plan and the Ryan Budget

March 29, 2012One Cent Solution

The One Cent Solution team is a big fan of Congressman Paul Ryan and his efforts to address our fiscal crisis.  He’s been a leader on these issues like nobody else, and he deserves our praise.  

Moreover, his latest budget has lots in common with the Penny Plan.  Like the Penny Plan, it keeps the focus on the problem — excess federal spending.  And … Read more >

A Message from former Reagan Budget Director Jim Miller

March 21, 2012One Cent Solution

Last week, One Cent Solution “Penny Plan” supporter James C. Miller, III sent out a letter of support for the Penny Plan to his fellow economists.  Jim Miller was Ronald Reagan’s budget director in the mid-1980s, and been a great champion of fiscal responsibility his whole career.  

Here’s what he had to say about the Penny Plan: 

Dear Fellow Economist:

The U.S. budget is … Read more >

Penny Plan Support Growing

February 29, 2012One Cent Solution

Earlier this month, two new Senators added their names as cosponsors of the One Cent Solution “Penny Plan” legislation introduced by Senator Mike Enzi (R-WY).  Why did they join the effort?

Perhaps it was the President’s new budget, which wholly ignores our growing fiscal crisis.  (Debt crisis?  What debt crisis?)  Or perhaps it was Majority Leader Harry Reid’s announcement that, for the third year running, … Read more >

President’s Budget — More Spending, Higher Taxes, More Debt

February 15, 2012One Cent Solution

The Administration’s new budget is perhaps the best recommendation out there for the One Cent Solution “Penny Plan.”

Where the Penny Plan is simple and honest, the President’s budget is complicated and duplicitous.  Where the Penny Plan takes on the fiscal crisis by focusing on spending, the budget avoids making tough choices by pretending the problem doesn’t exist.  And while the Penny Plan sets out … Read more >

Using ‘Penny Plan’ to get financial house in order

February 14, 2012One Cent Solution

Politico

By SEN. KAY BAILEY HUTCHISON | 2/8/12 9:47 PM EST

Today, we face the most predictable — and preventable — crisis in American history. Consider the flashing warning signs: The U.S. has accumulated more than $5 trillion in new debt in less than four years; total debt recently surpassed our country’s gross domestic product (more than $15 trillion), and the Congressional Budget Office forecasts … Read more >

Penny Plan Rap, Yo.

January 11, 2012One Cent Solution

As our One Cent Solution/Penny Plan continues to build momentum in Washington, a key goal this year is to accelerate public awareness and support for this plan as a viable post-election option.  Enter political comedian and rapper Remy, who created a humorous video about the One Cent Solution/Penny Plan that we hope will go viral.

Click on the icon to enjoy the video and then … Read more >