Earlier this week President Obama released a list containing 121 proposed programs he would like to cut which he claims will save taxpayers approximately $17 billion. He continually referred to these program terminations as “cuts”. This couldn’t be much further from the truth.
A “cut” would be a decrease in overall spending. A prime example would be Obama’s $100 million cut several weeks back (even though it was minuscule relative to his proposed budget). With his new $17 billion he is not reducing spending, just transferring it to other programs he wants to fund. This doesn’t save the taxpayers a single penny.
Let’s talk numbers:
(Total FY 2010 budget)
$17 billion: 0.050%
(Spending transfers – fake cuts)
$100 million: 0.003%
(True spending cuts by Obama)
$17 billion (that’s a whole lot o’ moola) is about 0.050% of Obama’s Fiscal Year 2010 budget. In other words, it is about the same as cutting (not really, though…just transferring) $250 from the budget of a family earning $50,000 a year. The $100 million he actually cut is a teeny tiny 0.003% of the budget ($1.50 to that same middle class family)…yikes.
The people over at the Heritage Foundation made a great illustration demonstrating Obama’s horrible money management. I highly suggest taking a stroll over to their site.
Now is the time to stand up and voice your concerns. Let them know you want real fiscal responsibility, not illusions. Call your Senators, call your Representatives. It’s quick and painless. Send an email. DO SOMETHING!
Great chart. But you forgot to include the second half of the TARP funds Obama requested be made available as soon as he was sworn in.
You’re right, but I don’t want to depress people too much…. The money is flying out of (and being printed by) the US Treasury so quickly it is hard to remember everything.
I hope my Senators get tired of reading my e-mails. My Rep has voted against all of this I think.