April 21, 2009

Obama Cuts The Budget?

Who says Comrade Obama has no sense of fiscal responsibility? He's called upon his henchmen to slash the federal budget by a whopping $100 million.
Until recently, that would have sounded like a lot of money. But this graphic from The Heritage Foundation puts the number into context.
Remarks Harvard University economics professor Greg Mankiw:
To put those numbers in perspective, imagine that the head of a household with annual spending of $100,000 called everyone in the family together to deal with a $34,000 budget shortfall. How much would he or she announce that spending had to be cut? By $3 over the course of the year–approximately the cost of one latte at Starbucks. The other $33,997? We can put that on the family credit card and worry about it next year.
Even AP is disgusted by this pathetic attempt to dupe us into thinking we're not being spent into oblivion, observing that $100 million is
1/10,000th of the government's operating budgets for Cabinet agencies, excluding the Iraq and Afghan wars and the stimulus bill.
By the time Obama is done destroying the value of our currency by printing money to finance his demented spending spree, you'll be able to get $100 million for your used car — assuming gasoline is still available.

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