Happy New Year!

January 3, 2012 One Cent Solution

The One Cent Solution team enters the New Year with a long list of accomplishments in 2011, but a long list of to-do items for 2012 too. First off, we owe a note of thanks to our allies. We started 2011 with a compelling plan, plenty of energy, and not much else. Today, we have [...]

One Cent Solution featured in Atlanta Journal-Constitution

December 8, 2011 One Cent Solution

Today, an article featuring Brue Cook and the One Cent Solution ran in the Atlanta Journal-Constitution, (“Plan shaves federal budget cent a time”).  Bruce met with reporter Daniel Malloy in Washington, DC last week when he was in town to rally support for the plan among policymakers on Capitol Hill.  The article highlights the plans [...]

With or Without the BBA, Congress Needs the Penny Plan

November 17, 2011 One Cent Solution

There’s an old saying that a doughnut without a hole is something, but a hole without a doughnut is nothing.  That’s how the “Penny Plan” interacts with the proposal for a Constitutional Balanced Budget Amendment. With the Balanced Budget Amendment (BBA), the One Cent Solution is the perfect vehicle for bringing spending down to levels that [...]

Super Committee Proposal — More Tax than Spend

November 2, 2011 One Cent Solution

For a Committee tasked with cutting spending and deficits, the plan submitted to the congressional Super Committee last week moves in the wrong direction.  It calls for higher spending, at least initially, and significantly higher taxes. The plan, authored by Senator Max Baucus and backed by a minority of members of the panel, would reduce [...]

Perry Embraces 18 Percent Spending Target

October 27, 2011 One Cent Solution

Presidential hopeful Rick Perry embraced two of the key tenets to the One Cent Solution this week — the need to balance the budget in the near future and the need to cap overall federal spending at 18 percent of GDP.  As the Perry website notes: If the federal budget is ever going to be [...]

Federal Spending at Record Levels

October 20, 2011 One Cent Solution

A unique feature of the One Cent Solution is that it would require Congress to reduce spending in real terms — actual spending reductions — rather than just slow the rate of spending growth. Contrast that approach with Congress’ performance in recent years.  Faced with the largest budget deficits in modern times, Congress has failed [...]