Let’s just stop this marketing campaign before it begins. President Obama is going to trim the federal budget by minuscule $100 million. For anyone with half a brain this is hilarious. $100 million is a drop in the bucket. The only reason the Obama administration is floating this balloon is in hopes it fools stupid people. It’s unfathomable that this man could campaign for three years on change and transparency and offer something as ridiculous as a $100 million “cut” and then act like it’s some kind accomplishment. Greg Mankiw laments…
Just to be clear: $100 million represents .003 percent of $3.5 trillion.
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 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.
Why even bother then? What does the president hope to achieve by reducing the budget by $100? The New York Yankees spent $400 million in the off season. The US government spends $100 million every 13 minutes. The Democrats might be losing the plot. In 2006 many moderate Democrats ran successfully against Republican fiscal irresponsibility. Those same Democrats pledged at the time to stop financial responsibility and to end the “culture of corruption.” Since 2006 things have gotten worse and if Democrats don’t wake up those moderate Democrats will be the next up on the chopping block. Offering to reduce spending by $100 million is positively ridiculous.