26 January 2010

Obama's semi-budget freeze

On the one hand, hurray for not spending more. On the other hand, as Matt Welch points out, this is actually backpedaling from the "net spending cut" Obama repeatedly promised as a campaigner. On the gripping hand -- Amdahl's Law Strikes Again! Non-defense discretionary spending is a sliver of federal spending. This is a bit like getting your own finances in order by reining in the spending you do on the first three and a half days every month but doing whatever you want after that.

TJIC has the details:
Dispatches from TJICistan | bull !@#$ and nonsense

WASHINGTON – Under mounting pressure to rein in mammoth budget deficits, President Obama will propose in his State of the Union address a three-year freeze on federal funding
The freeze would take effect in October and limit the overall budget for agencies other than the military, veterans affairs, homeland security, and certain international programs to $447 billion a year
So the US federal budget is $3.5 trillion dollars a year, and Obama’s proposing to take 12% of that and say “the items in this 12% can’t grow”.

Although the freeze would shave no more than $15 billion off next year’s budget – barely denting a deficit projected to exceed $1 trillion for the third year in a row – White House officials said it could save significantly more during the next decade.
So the budget is $3,500 billion … and this will “shave” (which is to say “fail to grow”) the budget by $15 billion.

That’s 0.4%.

We’re supposed to fall for this crap?

Meanwhile, the deficit is $1,170 billion.

So his “cuts” (again, that word is a lie – it’s just a failure to grow ) amounts to nothing.

There are 305 million people in the US.

All of them rest on the work of just 140 million employed people.

Obama’s adding $8.5 k of debt per employed person per year.

…and he wants applause ?

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