It is no secret the federal government is broke and our economy broken.

I am fighting to free this country from the crushing impact of deficit spending and debt. Whether it is voting against the wasteful bailout schemes and pork projects that gut our economic freedoms or fighting against the temporary, Band-Aid style budgeting that does nothing to address our exploding deficits and debt, I hear the chorus of Americans across the country who are saying, “Enough is enough,” and I am taking action to end Washington’s unrestrained spending habits.

On May 11th I introduced the One Percent Spending Reduction Act of 2011. This bill would accomplish two crucial economic goals that would, in turn, get our economy on much more solid footing.

First, the plan would cut one penny out of every dollar the federal government spends. Currently, Washington spends roughly three dollars for every two dollars it collects in taxes. This means we are radically overspending. To make up the difference, the federal government must borrow from individuals, businesses and governments — both foreign and domestic. The more Washington spends, the more it has to borrow to pay our nation’s bills.

If Congress adopts a simple, yet effective plan that cuts just one penny from every federal dollar spent, we can dramatically reduce the deficit, which leads to the second goal — to put the federal budget on a path to balance by 2019. Under the bill, if Congress and the president do not cut spending by 1 percent each year, automatic, across-the-board cuts will be triggered to make up the difference and ensure the 1 percent reduction is achieved. We no longer have time for political games and empty rhetoric. Our economic freedoms are under attack, and we need serious solutions to fix the serious problems we face.

Click here for more information on The Mack Penny Plan

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