[SeekAndFind]

For the uninitiated....

In a nutshell, The Penny Plan balances the budget by:

a) cutting total federal spending by one percent each year for six consecutive years;

b)Setting an overall spending cap of 18 percent of gross domestic product in 2018; and

c) Reducing overall spending by $7.5 trillion over 10 years.

EDIT TO ADD: Herman Cain is on record as saying that he supports a plan similar to this one IN CONJUNCTION with his 9-9-9 plan and a Chilean Model for Social Security.

[ReleaseTheHounds]

Thanks for posting... I’m afraid it will be greeted here on the Freep with “balance the budget NOW” and other over-the-top demands that are completely unrealistic.

I’m also disappointed that none of the presidential candidates has stepped up to embrace this elegantly simple and yet comprehensive approach to getting our spending under control. Can’t they see the appeal of something simple and forthright as in Herman Cain’s 9-9-9 plan as something worthy to embrace?

But I’m sure Freepers will call you and me RHINOs and sell-outs for thinking such heresy.

JMHO, Folks!

[org.whodat]

Yes, nothing like the original newt and kasich glide path, which did not work, but let's try protecting spending by calling it a different name.

[Repeal The 17th]

“...cut just one penny out of each dollar it spends every year for six years...”
-
Q: Why not cut out 6% in the first year?
A: No cajones.

[ken21]

fine with me.

but common sense solutions don’t seem to be on the front burner of either party today.

[ballplayer]

Are they real Cuts or just reductions in the rate of Increase?