Quote Of The Day — Obama Cost-Cuttingby Brad Warbiany
Well, the Tea Partiers must have had an impact, because Barack Obama is about to go on a cost-cutting spree. With this
quick 90-day window to identify $100B of cuts to make across his cabinet, he’s showing that he really does hear our pleas for fiscal sanity.
Oh, wait, did I read that wrong? Yep, it’s NOT $100B, it’s $100M. That’s not even enough to be a drop in a bucket!
Reason puts it 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.
Expect petulant politicians, like spoiled children, when these “cuts” are identified, to scream and whine — “But we wanted our latte!”