Dealing With Debt One Cent or Percent at a Time


The intentions are in the right place, but you can’t help but leave people a little confused when your press release says: "The One Cent Solution Endorses … One Percent Spending Reduction Act."

To partially explain, The One Cent Solution is an effort to balance the U.S. budget and reduce the national debt. The One Percent Act, introduced by Congressman Connie Mack (R-Florida), would cut overall spending by 1% per year for the next six years.

I give up. I’ll let them try to explain:

Bruce Cook, chairman and CEO of the One Cent Solution, endorsed historic legislation introduced by Congressman Connie Mack (R-Fla.) that would end the nation’s debt binge and finally put the federal budget on a path to balance.    

Congressman Mack’s One Percent Spending Reduction Act of 2011 would move the government’s books into balance by 2019. The bill will reduce total government spending by $7.5 trillion for the next ten years, starting in fiscal year 2012. 
 
“Congressman Mack’s legislation embraces the broad parameters of the One Cent Solution,” said Cook. “The congressman is showing great leadership on the most important domestic issue of our time, and we are asking all of our supporters to tell their representatives in Washington to sponsor — and vote for — the One Percent Spending Reduction Act of 2011.” 
 
Co-sponsors of the bill thus far include John Campbell (California), Jeff Miller (Florida), Dennis Ross (Florida), Allen West (Florida), Steve King (Iowa), Marlin Stutzman (Indiana), Roscoe Bartlett (Maryland), John Duncan, Jr. (Tennessee), Reid Ribble (Wisconsin), Scott Garrett (New Jersey) and Cynthia Lummis (Wyoming).

Stutzman will be a special guest on the Indiana Chamber’s Policy Issue Conference Call on June 10.

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