Term of the Week - Penny Plan

From City Lab:

"Last week, the Senate confirmed Mick Mulvaney, a House representative from South Carolina, to serve as the director of the Office of Management and Budget. Mulvaney is a notable supporter of Trump’s so-called “penny plan,” a campaign pledge to slash non-defense discretionary spending by 1 percent of prior year levels for every year over a decade. By 2026, the penny plan would result in domestic spending at 37 percent below the level in 2010. “Cuts of these magnitudes would have devastating effects on tens of millions of less-fortunate families and on an array of basic services that middle-income Americans, as well, rely on,” writes CBBP’s Robert Greenstein."