“Obama Spending vs Spending Cuts”

A speck, that’s what it is.

Thanks to The Heritage Foundation for the powerful visual.

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:
obamacuts

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.”

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Published in: on April 20, 2009 at 4:30 pm  Leave a Comment  

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