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Connie Mack’s One-Cent Solution

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    Rep. Connie Mack, (R-Fl.), discusses his solution to cut the deficit.

  • Duration 4:55
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To bring in Florida congressman Connie Mack he is offering a one cent solution for the federal budget.

The plan would cost one penny from every dollar spent over the next six years congressman -- is right here in New York Post welcome program thank you very much -- -- -- with -- -- I'm simplifying this what you wanna -- 1% to out of old spending.

Each year for the next six years as.

And I guess is in the black that's it.

That's it is pretty simple -- -- -- -- think about it.

We'll take one penny out of every dollar.

Every federal dollar.

Every year for six years that's it one -- People were watching the show today they've had to do.

Much more drastic things with their home budget than one penny out of every dollar businesses all across America have had to do a lot worse than just one penny out of every dollar so we're -- is one -- Out of every federal dollar.

We caps spending at 18% of GDP in the -- in the seventh year.

And in the -- year we balanced the budget at the end of ten years we cut seven point five trillion dollars.

Now Tracy brought is that big number you was certain that -- of one of the biggest three point 80 visitors as always have a three point eight trillion dollars.

You -- 1% to three point eight trillion I think.

Doing my math I think -- 390 billion isn't it's a lot of money a lot of its alignment with what -- here's the thing is not an impossible costing target of one yet notes and if we continued to spending more on now.

You know week we can't sustain this and everything the -- that you went through.

She's she's so right with the spending that we've seen over the last.

Two years four years six years I mean this isn't just.

And -- -- administration in the Bush Administration we saw spending out of control.

So that we've got a lot of money out there that has been spent right now the democrats' plan is to spend more attacks more.

What I'm saying is let's just take one penny out of every federal dollar and balance the budget by the -- my mass was wrong.

1% to three point eight trillion is 38 billion I'm sorry.

You knew I was wrong -- you well you just a tonight's -- -- that's it's a lot of money either way you look at it.

But it's not it's not more than what families have had to do and what businesses and had to do and why it.

In Washington there's -- sentiment that the money is Washington's money that somehow Washington's earned it it's not Washington's money it's our money.

And -- and we give it to the federal government.

Does this does your plan -- seems like it puts you somewhere in between the Tea Party.

And -- may be the Democrats in other words it's it's a lot of money but it's not necessarily enough money to prevent the catastrophe data seems like we're heading toward.

From the tea party's point of view and from a bit from the Democrats who -- to cut through any spending cuts so how how you go to work this idea amongst your colleagues.

Well I first of all I think the Tea Party will be very happy with this plan when they look at -- cutting seven point five trillion dollars.

Balancing the budget we do I balance the budget bastard let's say the Ryan budget.

So you know I think people will look at it and you're right Democrats won't like it.

Because it doesn't include spending more or taxing more I mean that it is it's that simple.

It's just it didn't mentality drives me -- we've said it here that it should be 5% across the board for everybody -- nobody wants you know don't take my time in a way that you can take yours it's okay.

So for you say 1% across the board.

For them not to agree to this it's an embarrassment actually -- -- we have elected leaders who can't agree to 1%.

It's amazing -- yes that people out there that members of congress would look at this and go 1% is too drastic you know when I first introduced this bill my colleagues.

I took a hundred pennies.

Right a dollar I put him on the table.

And I -- are you willing to just cut.

One.

I mean think about that I think that the visual is so powerful that -- just.

One penny.

Every dollar one penny out of -- -- every -- for six years for that would reduce projected spending by seven and a half -- -- -- sort of going back way it would goes -- way and -- are you guessed it is seven and a half trillion out but at the end of the time that's correct have you got a formal proposal to that effect on the floor of the house we -- I've -- -- I've got -- -- -- what's your chances I mean what kind of support -- -- -- well first of all I think it'll play well into the debt ceiling.

Discussion.

And what I've said in what many other members -- said as we will not.

Even think about voting for the debt ceiling increase without.

Balancing the budget.

So what I've said -- I I believe that there's a group of a hundred members that are gonna sign a letter that says we want a balanced budget amendment we want my bill.

And there's another cap bill out there as well so those three things.

If we do those three things -- vote for the debt ceiling but here's but I have one mother -- and that is an automatic roll back so in other words we raise the debt ceiling.

To get through the spending that happened in the past but then as soon as we lowered spending.

We roll it right back to where it is are you running for president in 2016.

I'm non -- for congress.

At a -- if you wonderful guy great politician Connie -- thanks for joining us accusing.

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