Posted on 05/07/2009 8:38:53 AM PDT by anniegetyourgun
WASHINGTON (Reuters) - U.S. President Barack Obama's budget suggests $17 billion in spending cuts for fiscal year 2010, but Congress already has rejected some of those proposals and the savings do little to dent a projected $1.17 trillion deficit.
Obama on Thursday released details of the spending cuts, most of which were announced during or after the initial roll-out of his $3.5 trillion budget in February. Fiscal year 2010 begins on October 1.
Here is a look at what some of the cuts mean for deficit reduction and the chances they have of getting approval from lawmakers:
(Excerpt) Read more at reuters.com ...
Actually, if he wants to revisit the stimulus package...I can easily point out $17 billion to cut....and make everyone happy...and get myself nominated for the Nobel Economic prize.
They will have a huge impact! The sheep will think Obama is trying his hardest to reduce Bush's $2 trillion dollar deficit that poor Obama "inherited!"
“We can no longer afford to spend as if deficits don’t matter and waste is not our problem,” he said. “We can no longer afford to leave the hard choices for the next budget, the next administration — or the next generation.”
This is the kind of rhetoric Obama is good at. After spending a few trillion dollars he makes an idiotic statement like this and Obama lovers eat it up. Does his spending cause surplusses? Most people have no idea what a trillion dollars
looks like, but they can hear Obamas words and think all is well, Obama is at the helm and he doesn’t like deficit spending, so we must be OK. And he’s getting away with it.
I wonder when, if at all, people will wake up to this guy and his brand of socialism. Redistribute the wealth, really.
Redistribute it to the Government so they can spend as they wish. Ayn Rand, who came from a communist country, saw all of this coming many years ago. But when people believ they are getting something for nothing ans no effort, it’s hard to convince them where it’s headed.
“One example is the $400 million State Criminal Alien Assistance Program that gives money to states to help them pay for the costs of keeping illegal immigrants who commit crimes in jail. Much of that money goes to New York, California and Florida, three of the four most populous states in the union that all voted for Obama on Nov. 4. But eliminating that program won’t be popular in any of them.”
Yep, B.O. turn the criminals loose on your voters.
The Kool-Aid drinkers will hail this as fiscal responsibility....I could puke.
Simple math and obfuscation.
Crank the budget to 3.5 Trillion dollars and then beat your chest telling people you are decreasing it by a few billion.
Baseline budgeting run amok.
People should read the article at Reuters, and then act “accordingly”. Of all the grand plans presented by our current leadership, none of it is worth mentioning. It won’t make a difference. People are living in a false sense of hope right now and would be wise to continue preparing, because nothing has changed.
I’m not so good at math when there are 17 ZEROES (not to be confused with seventeen 0samaYomama0bama impersonators) involved.
Could someone fire up their official 0bummer scientific calculator and figger out what percentage $17 Billion is of $3.5 Trillion? ‘Cause I’m sure it has to be in the 100ths (1000ths?) of a percentage point!
It’s .00485... or .4 percent I “think”. I could be wrong though.
Waffles! :-)
“savings” are roughly 0.5% of the proposed budget.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.