“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 panel of economists to discuss the need to balance the budget through spending cuts. As you can imagine, the One Cent Solution “Penny Plan” was at the center of the discussion. Hosted by the George Mason University Mercatus Center, other speakers included Jim Miller, Director of the Office of Management and Budget under President Ronald Reagan, Dr. Jason Fichtner, George Mason University Fellow and former acting deputy commissioner of social security and Chris Edwards, Director of Tax Policy at the Cato Institute.
Dr. Miller, in particular, gave a ringing endorsement of the plan, concluding his remarks with the observation that “This is the sort of proposal Ronald Reagan might well have championed!”
Click on the video below to see highlights of the forum.
I was encouraged by the overwhelmingly positive response to the forum as speakers reinforced the simple elegance of the plan and the need for our government to have a near-term pathway to balance the budget. With the elections and another debt ceiling battle coming this fall, the One Cent Solution “Penny Plan” is just what Congress needs to fix the problem for good. In preparation for that battle, we’re adding cosponsors and we’ve expanded our support in the think tank community. This Mercatus forum is exactly what’s necessary to get the word out. Thanks to Mercatus, Jason Fichtner, and Dr. Miller for their efforts.