Posted on 05/07/2009 7:23:33 AM PDT by Oldeconomybuyer
WASHINGTON (Reuters) - President Barack Obama on Thursday will suggest wringing $17 billion in savings from the fiscal 2010 budget as he seeks to allay worries about soaring deficits and build support for a hefty domestic agenda. [snip]
Amid spending on the wars in Iraq and Afghanistan and bailouts for the banking and auto industries, the White House has forecast that the budget deficit will hit $1.75 trillion in the current 2009 fiscal year. The administration expects the deficit to drop to a still-huge $1.17 trillion in 2010. [snip]
Of the spending cuts Obama will spell out on Thursday, about half would be in the defense budget.
(Excerpt) Read more at reuters.com ...
I was about to joke that half of the cuts would come from defense... until I read down in the article.
Disgusting.
“Of the spending cuts Obama will spell out on Thursday, about half would be in the defense budget.”
I bet no one saw that coming. /sarc
99.5% of the budget is critical spending. Only the Department of Defense wastes any money.
FWIW - I believe the total acquisition budget for the entire DoD runs around $50B. Compare that to the bank bailout (750B), the ‘print fake money (1,000B) or even the various loans to the UAW (I mean, GM & Chrysler) that will never be paid back...
Don't blame the wars. They both total about $100 billion per year. That puts Obama at $1.65 trillion! The last Republican Congress complete budget was fiscal 2007 and that only had a $160 billion dollar budget deficit.
OBUMMER’S ONLY THINKING OF THIS NOW! WHERE WAS HE DURING THE FORMULATION OF THE STIMULUS PACKAGE? WHERE WAS HE WHEN HE FORMULATED THE BUDGET? Oh yeah, I forgot he was too busy scrambling around finding folks for his cabinet WHO DID PAY THEIR TAXES AND apologizing to everybody over seas for America, such a bad terrible country who does nothing right and everything wrong.
$17 billion is 0.05% of the federal budget. It is not even a rounding error. Just more Axelrod PR to fool an ill-informed and dumb electorate.
Yep!
Too late. Our economy has been toasted.
Regan inherited the same thing, and quickly fixed it with a citizen "stimulus" package. It led us through 2 presidencies.
Oboma (praise Allah) decided to do the opposite, damning us for the next 10 generations - that is if this country manages to survive another year.
Who are they kidding?
Ain't gonna happen. The unemployment is too high and still climbing. There isn't going to be any tax revenue.
I hope Obomas ...(praise Allah).... wife, Mack, really likes gardening. She's going to have to grow enough food to feed the entire country.
An era of financial insanity like no other in the history of mankind.
Maybe Oboma (praise Allah) is attempting to finish the job his Muslim brothers failed to do on 9/11.
Remember, the man was never vetted.
$17,000,000,000.00 out of $3,400,000,000,000.00 is 0.5%. To put into perspective, if you spent $100,000 a year, that would be like cutting you spending by $500 and spending $99,500 instead...
Big friggin deal.
$1,000,000 in seconds = @ 3 Months
$1,000,000,000,000 in seconds = = @ 31,688.8 YEARS.
I wonder if the great one has any concept of Billion vs trillion, other than both end with ion?
Gee, no bias in that headline
And cutting the deficit by LESS THAN ONE PERCENT does this how?
So much for a Harvard educated affirmative action community organizer.
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