S.C. Sen. Larry Grooms has endorsed the “penny plan,” an effort to balance the federal budget within six years by cutting a penny out of every dollar government spends over that time period.
“Our deficits are outrageous,” Grooms said in endorsing the proposal. “Last year the deficit was more than one trillion dollars. The federal debt – accumulated deficits – is above $16 trillion.”
According to Grooms, the “penny plan” would reverse this trend by shrinking government gradually over a six-year period – which is why the proposal has been endorsed by fiscal conservatives like U.S. Senators Rand Paul and Marco Rubio.
Who hasn’t endorsed the proposal? Grooms’ opponents in the South Carolina first congressional district race. In fact Grooms’ campaign chided the other candidates for this seat for saying the penny plan “needed further study.”
“Perhaps its the others in the race who need ‘careful study,'” a release from Grooms’ campaign noted.
“It does what everyone knows needs to be done—sets the federal government’s fiscal house in order and restrains government to a reasonable share of GDP,” the plan’s official website explains.
Grooms is one of sixteen candidates seeking the GOP nomination for the first congressional seat vacated earlier this year by newly appointed U.S. Sen. Tim Scott. The winner of the Republican primary will face Elizabeth Colbert-Busch, sister of comedian Stephen Colbert, in a special election in May.
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22 comments
Haven’t reviewed this plan, but, I do like that it reduces spending gradually. Just as Rome wasn’t built in a day, likewise, America’s spending problem wasn’t either. And, just like a junkie, we’ll have to pull back gradually. At the same time, I’d rather see the penny be reduced over a 40 to 50 year period (6 years is just ridiculous and a nothing amount)… there’s just too much crap that the Government spends on. For instance, I’d definitely eliminate all food stamps, all welfare, all medicaid, etc. and so much more. And yep, Social Security would move toward a self-directed model. There, government is now reduced 50+%. Simple.
Haven’t reviewed this plan, but, I do like that it reduces spending gradually. Just as Rome wasn’t built in a day, likewise, America’s spending problem wasn’t either. And, just like a junkie, we’ll have to pull back gradually. At the same time, I’d rather see the penny be reduced over a 40 to 50 year period (6 years is just ridiculous and a nothing amount)… there’s just too much crap that the Government spends on. For instance, I’d definitely eliminate all food stamps, all welfare, all medicaid, etc. and so much more. And yep, Social Security would move toward a self-directed model. There, government is now reduced 50+%. Simple.
BREAKING NEWS….from a candidate not in the top 5.
BREAKING NEWS….from a candidate not in the top 5.
If you don’t think Grooms is a Top 5 candidate then you aren’t following this race at all. Actually, from what I’ve been able to gather, he’s in the top 2. I mean there were over 600 people at his David Barton endorsement event tonight alone for gods sakes.
If you don’t think Grooms is a Top 5 candidate then you aren’t following this race at all. Actually, from what I’ve been able to gather, he’s in the top 2. I mean there were over 600 people at his David Barton endorsement event tonight alone for gods sakes.
Go Larry go! Our whole family supports you.
Go Larry go! Our whole family supports you.
Slimehouse spreading rumors as usual…he now has his “team” going around telling everyone that Grooms is running 6th right now in his “polls”. Hahaha ohh Chip, can’t wait to see you come in 4th place after burning $400,000 of your own family money.
Slimehouse spreading rumors as usual…he now has his “team” going around telling everyone that Grooms is running 6th right now in his “polls”. Hahaha ohh Chip, can’t wait to see you come in 4th place after burning $400,000 of your own family money.
How much of every dollar he makes is Grooms paying you to write all these pieces about him?
How much of every dollar he makes is Grooms paying you to write all these pieces about him?
Righto, Larry, keep it REAL VAGUE. Who can argue with a penny? But if you are more specific you get caught in your typical intellectual vacuum. You can’t be precise, can you? That would cost you votes. So, keep everything vague and “everything will work out.” What proposals do you have to reduce Social Security and Medicare / Medicaid, which consume 52 cents of every federal dollar?
If you go to the noted website, it explains in detail how the plan works. That must be too complex for you.
Righto, Larry, keep it REAL VAGUE. Who can argue with a penny? But if you are more specific you get caught in your typical intellectual vacuum. You can’t be precise, can you? That would cost you votes. So, keep everything vague and “everything will work out.” What proposals do you have to reduce Social Security and Medicare / Medicaid, which consume 52 cents of every federal dollar?
If you go to the noted website, it explains in detail how the plan works. That must be too complex for you.
Will, you need to tone it down. It’s become obvious to everyone, that you are either sleeping with Grooms, or being paid by him.
Will, you need to tone it down. It’s become obvious to everyone, that you are either sleeping with Grooms, or being paid by him.
Well, I’m no genious. But I think 1+2+3+4+5=15%. Our budget won’t balance with another 15% cut. It would take at last 2.5% per year. Wasn’t the sequestration less than that? And just look at the opposition to that. I do agree we need to start somewhere though.
Well, I’m no genious. But I think 1+2+3+4+5=15%. Our budget won’t balance with another 15% cut. It would take at last 2.5% per year. Wasn’t the sequestration less than that? And just look at the opposition to that. I do agree we need to start somewhere though.
Mr. Grooms penny plan makes no cents. If you cut one but federal government grows intrinsically by 5 how do you balance the budget in 6… You don’t!
Mr. Grooms penny plan makes no cents. If you cut one but federal government grows intrinsically by 5 how do you balance the budget in 6… You don’t!