Naturally, you have to start somewhere when it comes to cutting the budget, and so President Obama’s promised cut of $100 million should be encouraged. But a reader does the math, just to put everything into context.
[I]n a $3 trillion budget, a $100m spending cut is equivalent to a person who makes $50,000 a year declaring proudly that he will cut a whopping $1.67 from his expenses.
That’s like a legislative assistant on Capitol Hill cutting back by one iced tea per annum. Unfortunately, President Obama’s budget does not presage many other “hard choices.”
An aide to Sen. Mitch McConnell (R, Ky.) adds this striking comparison:
[T]he government will pay $100 million in interest per day over the next ten years on the stimulus bill.