Posted by
gab on Tuesday, April 21, 2009 4:13:10 PM
It just doesn't get better than this chart, and
read the paragraph below the chart. I love graphics like these, that try to wrap our arms around these ridiculous USA government budget numbers floating around. I don't know about you, but I find it amazingly insulting that right after the "tea parties" Obama decides to throw out a bone to the "dissenters" of his budget plan, and
announces a $l00 million budget cut! (I guess he showed us how unimportant our tea tempest was!!!) Thanks Obama - about as significant as ....well , read below - and you will see what I mean!!! (And don't you just love the Drama of Obamas missive to his cabinet: "I want you to find these cuts in the Next 90 DAYS!!!!! " Even though he managed to put together a 3.67 TRILLION FY'10 Budget in less than 60 days!!!!!!!!!!! Hope his cabinet can make that deadline, and without a latte by their side. )
According to reports, President Barack Obama plans to convene his Cabinet for the first time today, where he will order members to identify a combined $100 million in budget cuts over the next 90 days. Just how laughable is Obama’s latest stunt to try to maintain his “fiscal responsibility” credentials? This graphic from Heritage’s John Fleming might help:
Harvard University economics professor Greg Mankiw’s comments:
To put those numbers in perspective, imagine that the head of a household with annual spending of $100,000 called everyone in the family together to deal with a $34,000 budget shortfall. How much would he or she announce that spending had to be cut? By $3 over the course of the year–approximately the cost of one latte at Starbucks. The other $33,997? We can put that on the family credit card and worry about it next year.”