One Cent Solution Presentation

1,244 views
1,164 views

Published on

Interested in spreading the word on the One Cent Solution? Here's a tool to help you help us with our grassroots effort.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,244
On SlideShare
0
From Embeds
0
Number of Embeds
222
Actions
Shares
0
Downloads
8
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

One Cent Solution Presentation

  1. 1. Restoring America’s Financial Future<br />
  2. 2. The One Cent Solution - Restoring America’s Financial Future<br />U.S. Public Debt to Double Over Next 10 Years<br />Source: Congressional Budget Office<br />
  3. 3. The One Cent Solution - Restoring America’s Financial Future<br />Interest Payments Quadruple by 2020<br />Source: Congressional Budget Office<br />
  4. 4. Compare to Typical American Family<br />If a typical family acted<br />like the federal government, <br />what did 2010 look like?<br />We earned about $50,000<br />We spent more than $80,000!<br />We added $30,000 to our credit card debt<br />Total credit card debt: Over $200,000!<br />The One Cent Solution - Restoring America’s Financial Future<br />
  5. 5. How Do We SolveThe Debt Problem?<br /><ul><li>Economic Growth?
  6. 6. Raise Marginal Tax Rates?
  7. 7. Value Added Tax?
  8. 8. Congress Cuts Spending?</li></li></ul><li>The One Cent Solution - Restoring America’s Financial Future<br />The One Cent Solution<br />1. Provides a path to a balanced budget by reducing total government spending one cent out of each dollar for six years. <br /> 2. Supports legislation to accomplish OCS goals.<br /> 3. Engages public support for Congressional action.<br />
  9. 9. 1. Path to Balanced Budget<br />Assumptions:<br /><ul><li>Revenues return to historic rates of 18-19% GDP—with or without changes in tax rates.
  10. 10. Total government spending reduced 1 percent per year for six years. Everything is on the table.</li></ul>Results:<br /><ul><li>Budget balanced by 2019
  11. 11. Spending reduced $7.5 trillion </li></ul>The One Cent Solution - Restoring America’s Financial Future<br />
  12. 12. The One Cent Solution - Restoring America’s Financial Future<br />The One Cent Solution Path to Balanced Budget<br />
  13. 13. Economists Support the One Cent Solution<br />The 1% Solution - Restoring America’s Financial Future<br /><ul><li>George Mason University—Mercatus Center publishes The 1 Percent Solution Paper
  14. 14. Doug Holtz-Eakin, Former CBO Director; Chief Economist to Senator McCain’s presidential campaign hosts American Action Forum; Russell Senate Buildingwith:
  15. 15. Senator Bob Corker
  16. 16. Robert Packwood, Former U.S. Senator
  17. 17. Chris Edwards, Cato Institute
  18. 18. Stephen Bell, Bipartisan Policy Center
  19. 19. Bruce Cook, One Cent Solution
  20. 20. 74 Economists Endorse OCS: Duke University, U of California Irvine, Texas A&M, Wake Forest University, U. of Michigan, JP Morgan Chase, Fordham University, Broward Collage, Cal Poly University, University of Akron, University of Maryland, Washington State University, East Carolina University</li></ul>Ben Wilterdink<br />Center for Fiscal Accountability<br />March 7, 2011<br />This week, the American Action Forum held an interesting panel discussion…A great standout in the presentations was that of Bruce Cook, founder of One Cent Solution…<br />
  21. 21. Congressman Connie Mack (R-FL) introduces H.R.1848—”Penny Plan”-- 67 co-sponsors <br /><ul><li>Senator Enzi (R-WY) introduces S.1316-- 8 co-sponsors
  22. 22. “One Percent Spending Reduction Act of 2011”:
  23. 23. Congress imposes strict spending caps to ensure spending is reduced 1% per year for six years.
  24. 24. Congress reforms spending programs to bring spending under the caps
  25. 25. If Congress fails to act the “across the board” cuts occur to bring spending in line.
  26. 26. Spending is capped at 18% GDP after 2019.</li></ul>Legislation<br />The One Cent Solution - Restoring America’s Financial Future<br />
  27. 27. How Plans Compare<br />The 1% Solution - Restoring America’s Financial Future<br />
  28. 28. National Campaign to Recruit Voters to Sign the Petition<br />Zogby survey shows widespread support of the One Cent Solution:<br />75% of voters would support the One Cent Solution<br />90% would accept less federal spending to reach balance<br /> National Media Campaign involves:<br /><ul><li>Digital Advocacy
  29. 29. Social Media
  30. 30. Advertising</li></ul>The One Cent Solution - Restoring America’s Financial Future<br />
  31. 31. Community Captain Campaign<br />Goal: 100 Community Captains per city who sign up 50 petition signers=5,000 per city <br />The 1% Solution - Restoring America’s Financial Future<br />
  32. 32. The One Cent Solution - Restoring America’s Financial Future<br />Our Challenge and Opportunity<br />“We should avoid ungenerously throwing upon <br />posterity the burden we ourselves ought to bear.”<br /> - George Washington<br />“We must not let our rulers load us with <br />perpetual debt.”<br /> -Thomas Jefferson<br />“I am only one, but I am one. I cannot do <br />everything, but I can do something. And I will<br />not let what I cannot do interfere with what I<br />can do.”<br />-Edward Everett Hale<br />Become part of the solution—Sign the petition. Become a Community Captain. Visit: www.onecentsolution.org<br />

×