PolitiFact Florida: Will Connie Mack's "Penny Plan" really balance the budget by 2019?
PolitiFact Florida dissected Connie Mack's "Penny Plan," the centerpiece of a May taxpayer-funded campaign mailer that ended up overshadowing the Republican Senate candidate's proposal because it went to residences outside of his congressional district.
"The Mack Penny Plan is simple -- eliminate one penny out of every federal dollar spent," the mailer said. "Doing this would balance our budget by 2019 and restore economic freedom by reducing spending and bringing fiscal discipline to Washington. The Penny Plan continues to gain support and now has 70 cosponsors in the House of Representatives, as well as support from key senators like Marco Rubio, Pat Toomey and Rand Paul. If Florida families can cut one penny, or more, out of every dollar in their budgets, so can Washington."
PolitiFact Florida had a few questions about Mack’s plan:
• Does the math work -- would it balance the budget in eight years?
• How would Mack get to that 1 percent cut each year -- would it be across the board in every area, including Social Security and Medicare?
• Is it really gaining support? Or is it stalled?
Read the report for our rating (and check out a rap video about the Penny Plan below).