I remember falling out of my chair laughing when Obama made a big deal about his request to reduce spending by $100M in April of 2009. That number was so ridiculously low, it was insulting to my intelligence, and yours. I honestly believe government is counting on the stupidity of the American people to keep its spending juggernaut in motion.
To point out how insulting that $100M proposal was, we need only consider the current insulting proposal for $38.5B that is up for a vote today. The current proposal is 385 times larger than Obama’s but in the following bullet points you will see how insulting this number is and subsequently what a joke Obama’s $100M was.
- $38.5B in real cuts would reduce this years debt from $1.5T to $1.46T. That $1.46T will just get added to our current total debt which is $14.3T right now.
- The CBO (Congressional Budget Office) calculated that only $352M in cuts of that $38.5B will actually happen this fiscal year.
- Since the government spends $6.85M per minute, the actual cuts of $352M only cut 51 minutes of government spending for the next six months.
- It is important to note that the $38.5 billion in “spending cuts” is referred to in Washington, DC, lingo and should not be taken literally for the value the numbers visually represent. It seems that most of the “cuts” were made in what is known as “spending authority” and ultimately most of that “spending authority” that was cut was not likely to be spent this year anyway.
- In other words, the amount they “could” spend was reduced, not any actual spending, but the dollar values of those “could spends” were included in the “cut” amount.
What a joke. They must think we are absolute morons.
To see a great YouTube video on how insignificant Obama’s $100M proposal was, click here.
Categories: National Debt