27 January 2010

More of a Light Frost Than a Freeze

Reason online: Obama's Empty Cost-Containment Rhetoric: Should We Call Him Out on It?

The part of the budget that Obama is chilling is responsible for a whopping one-eighth of annual federal spending. By the prez's own accounting, the action (which I guarantee won't hold up anyway) would save at max a whopping $15 billion in fiscal year 2011.

To put that in perspective: The budget deficit in 2009 was $1.4 trillion. Which will likely be matched, or nearly matched, in 2010. The budget in 2009 was a hair under $4 trillion and was first figured at around $3.5 trillion for 2010 (expect that to rise, as it normally does).

To talk about possibly trimming $15 billion (and that's only in foregone increases to whatever is already being spent) on a budget this size is like an already-broke dinner companion foregoing his third appetizer. It's not gonna help much when the bill comes due.

No comments: