Posted on 04/12/2011 7:30:37 PM PDT by tobyhill
The $38 billion in spending cuts agreed to last week won't prevent this year's budget deficit from setting another record high, estimated at $1.5 trillion.
Most of the agreed-to spending cuts either affect future budgets or amount to accounting gimmicks that won't reduce actual spending.
The Treasury Department reported Tuesday that the deficit already totals $829.4 billion through the first six months of the budget year — a figure that until 2009 would have been the biggest ever for an entire year. For March alone, the government ran a deficit of $188 billion.
President Barack Obama and congressional Republicans averted a government shutdown last week by agreeing to the largest-ever spending cuts for a single year. But David Wyss, chief economist at Standard & Poor's in New York, said those cuts amount to a "rounding error" in this year's deficit.
The cuts include unspent money from the 2010 census, which is completed, and $2.5 billion from the most recent repeal of highway programs that can't be spent because of restrictions set by other legislation. They also include $3.5 billion in unused bonuses for states that enroll more children in a health care program for lower-income families.
(Excerpt) Read more at msnbc.msn.com ...
Boehner didn’t blow it. He knew exactly what he was doing. The OP(formerly the GOP)has been, lying along with the RATs, for decades to the American people. One of the biggest scams perpetrated by them against the people is the notion we have a two party system. The fact is the OP and the RATs are two factions of one big Socialist Republicrat machine.
Just Boehner blows is fine.
This budget cut will have the same effect on the deficit as peeing on a forest fire.
Instead of doing the things a government of a Constitutional Republic was intended to do, the Federal Government has become a huge redistribution system.
3.5 trillion dollars of spending becomes 35000 dollars and 38.5 billion becomes becomes 38 dollars of cuts.
In other words a spending habit of $35000 is lowered by $38 dollars!
Only Washington politicians can make the argument that this is a BIG cut.....
BTW that is about a 0.1% cut.
We have to clean house and whoever put this worthless drunk in as speaker is part of the enemy as well.
And a child’s sand bucket at the beach is not expected to lower the ocean level. Duh!
Rush thinks the fastest route to stamping out the Liberals is taking over the Republican Party. If it works it will take about 4 more years. Rush also thinks it does not matter who is the next President in 2012 as long as there is an R next to his name. Maybe Trump is part of Operation Chaos.
FU Republican Party
Only suckers watch TV and only lefty blog pimps like you pimp for MSNBC.
Tomorrow we will learn after the budget deal the new deficit will be $2.3 trillion and the republicans will crow that if they hadn’t saved an additional $500 million it would have been 2.8 trillion.
After the draconian cuts of the Ryan budget it will be down to $5.7 trillion.
I don’t know about Trump - kudos to him for bringing up the birther stuff I guess, he gains a lot of attention and maybe a few folks will think twice about the Jackwagon at 1600, but here’s the thing - what’s the f’n point? The idiots running the GOP are in bed with the Dems. It’s all a show. Not a one of them stands by any principles. Sure some of the newly elected ones may have gone there with TEA Party enthusiasm.... but when they get there, it’s almost as if they get bound and ball-gagged and get to spend quality time with Maynard and Zed telling them how it really works in DC. The country is speeding into the abyss and these pathetic politicals quibble over $38B versus $61B versus $100B, when what needs to go away is on the order of $30 Trillion!
According to my calculator it’s .001 percent.
I’m convinced they’re all evil. What else can explain them intentionally destroying this country.
And I can’t wait for all the “If you vote for a third party you’re re-electing Obama” crowd. I don’t see any difference in the two parties. See my tagline.
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