Club for Growth supports Senator Rand Paul’s Penny Plan Balanced Budget and urges all Senators to vote YES on it. A cloture vote is expected today in the Senate. The result of this vote will be included in the Club for Growth Foundation’s 2019 Congressional Scorecard.
The National Debt exceeds $22 trillion and the federal government is incurring over $1 trillion in annual deficits. Congress needs a plan to balance the federal budget and reign in spending. The Penny Plan would cut two percent in spending per year for the next 5 years in order to balance the budget. Federal spending would then increase by two percent for each of the following 5 years.
Congress needs to operate its budget like American families operate their budget. That means cutting up the credit card and ending excessive annual deficits that balloon the national debt. Net interest payments will exceed other major categorical spending, including defense spending by FY2025. Irresponsible budgeting over the past two decades is why a plan to balance the budget is urgent and necessary.
Club for Growth Foundation’s Congressional Scorecard for the 116th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to the public.