What Happened to Sean “Penny Plan” Hannity

by: Brent Smith at the Common Constitutionalist

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This upsets me, but if we are to remain true to conservative ideals, we must be prepared to call those who appear to have abandoned them.

In early July, 2011, U.S. Representative for Florida’s 14th congressional district, Cornelius Harvey McGillicuddy (cool name), better known as Connie Mack IV, introduced a government spending plan called the Mack Penny Plan.

Mack served in Congress from 2004-2013.

More precisely, Mack Penny was a plan to cut government spending. Unlike virtually all things in government, his plan was quite simple. For every dollar of proposed spending, the plan would take away one penny of spending. So instead of the government spending that dollar, they would receive 99 cents to spend. See – simple.

In August of that year, FreedomWorks wrote that, “The Penny Plan would require Congress to cut just one penny out of each dollar it spends every year for six years. These gradual cuts over the next six years will balance the federal budget.”

If it were enacted it would have, “capped Overall Spending at 18 Percent of Gross Domestic Product (GDP) Starting in Fiscal Year 2018, Reduce Overall Federal Spending by $7.5 trillion over the Next Ten Years, Would Balance the Federal Budget by 2019 and End Washington’s Unprecedented Spending Spree.” read more

Tax and Spend GOP

from Conservative Review:

Pain at the pump! GOP considers gas tax increase

On Monday morning, President Trump took to Twitter to announce a “big week for Infrastructure” (again) as the administration is set to roll out a $1.5 trillion plan to invest in American infrastructure. The administration claims that by relying on state and local governments, and with reductions in the federal budget, the cost to the federal government will be just $200 billion. read more

WND Exclusive: Hey, Mitch McConnell, ‘Lead’ is Part of Your Title!

Talk about leading from behind. We used to think it shameful that Obama would lead from behind, by letting other world leaders do whatever heavy lifting needed to be done (not that much ever had to be done), and then Obama would just hop on the bandwagon –being praised by leftists for it.

Obama was the king of leading from behind – until now. It seems our dear Senate majority leader, the one and only (thank heavens) Mitch McConnell may have dethroned the king. read more

Spendthrift House & Senate

from the American Spectator:

Sometimes posturing proves bad for posture. Standing for eight hours in four-inch heels strikes as just one of those times.

Minority Leader Nancy Pelosi grandstanded on immigration in the well of the House of Representatives on Wednesday. The media hailed the lengthy harangue as unprecedented. But surely this comes as not the first time a preachy liberal promised to take just one minute of your time only to conclude the lecture eight hours later. read more

Limbaugh’s Thoughts on the latest Budget Agreement

by: Brent Smith at the Common Constitutionalist

Listening to Rush Limbaugh on Friday had me confused. He’s always been the voice of the right, giving voice to our thoughts. But it appears since this past presidential election, at least to me, that he is putting the voice of Trump and his supporters ahead of what we knew he has always been – a no-nonsense, small government, frugal conservative.

He has always been the man we could count on to hold everyone accountable for their actions and votes, if they happened to veer away from espoused conservative principles.

Yet Rush doesn’t appear to me to ever be critical of the President, even as Trump signs onto a massive spending increase or offers up amnesty to millions.

I discuss all of this rather uncomfortable topic. And believe me – I hate doing it. read more

Government Knows Only One Thing – How to Spend

from Constitution.com:

Rand Paul is Right – Paul Ryan’s Bi-Partisan Budget Deal is a Disaster

Apparently, fiscal conservatism is dead. Long live spending without consequences and uncontrollably ballooning deficits.
Early Friday morning (around 4 am), Congress passed Paul Ryan’s bi-partisan budget deal that will stave off another government shutdown for at least the next two years.

It was an unexpected nail-biter: After a short “technical” shutdown, Congress early Friday passed a measure that would raise spending levels by $300 billion over the next two years. read more

Republicans Fiscal Hawks – Oh Please!

from the Daily Wire:

WHILE YOU WERE SLEEPING: Government Shutdown Begins And Ends, Republican Congress Authorizes Trillion-Dollar Deficit

Unicorns.

Leprechauns.

Fiscal conservatives.

All of these are figments of the imagination. But fiscal conservatives continue to haunt the darkened hallways of American politics, every so often materializing to shout “BOO!” at the party in power, only to recede into the shadows as soon as they are called upon to actually govern. How else to explain the sheer cowardice of a Republican Party that just passed a massive budget increase, then cheered it as the very model of a modern budget victory?

ABC News breaks down the bill: read more

Tax Cuts Equal More Revenue

Welcome to the wonderful world of REAL economic dynamism. Gee – how much will tax cuts cost us, asked the no-nothing democrats.

from IBD:

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts

The Congressional Budget Office says that federal revenues in January added up to $362 billion. That’s an increase of $18 billion— or 5.2% — from the year before. As a result, the government ran a surplus of $51 billion that month, which is equal to the previous January.

Wait, weren’t the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves. read more

Video Podcast – How is Trump’s Economy Doing?

by: Brent Smith at the Common Constitutionalist

Today I discuss that the left has been attempting to downplay the startling Trump economic recover by saying that, “See, he didn’t the 3% growth target we were meant to expect.”

Yes, the economy that staggered along at 1.nothing percent to negative percent growth under 8 years of Obama has been eclipsed in short order by 2.3-2.6% growth, and this is somehow disappointing.

I discuss why the huge one day point drop in the Dow is not as big a deal as many would have us think.

And in my financial tip of the day, which is my only tip of the day, I discuss how Federal Reserve interest rate hikes will affect credit card debt and payments, and what to do about it read more

No to Protectionism Mr. President

from IBD:

High Tariffs And Weak Dollar Are No Way To Make America Great Again

As we’ve noted many times, President Trump’s first year was a rousing success when it comes to economic policy. But one new troubling exception has recently emerged: The Trump administration’s advocacy of a weaker dollar and trade protection. It’s a big mistake.

 In recent months, the U.S. dollar has weakened noticeably against other currencies. The Fed’s trade-weighted dollar index, which measures the dollar’s value against all of our trading partners, after adjusting for volume of trade, has fallen just over 8% in the past year, to a three-year low. That’s a sizable decline.

What concerns us is that the pace has picked up since the start of this year, with the dollar falling more than 3% since January 1 as talk of more trade protection for the U.S. economy gathers steam.  More importantly, the Trump administration has all but announced an explicit policy goal of having a weaker dollar. read more