• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Save Those Pennies: Obama's "Cuts" Are Bogus

    President Barack Obama is attempting the mitigate the sting of his astronomical spending spree during his first 100 days by lauding a forthcoming $100 million spending cut. Heritage budget expert Brian Riedl has some real ideas on how to save money and grow the economy, but in the meantime even liberal superstar Paul Krugman thinks this is chump change:

    ‘Pretty soon, even here in Washington, it adds up to real money,’ says the president.

    Except, you know, really it doesn’t. Let’s say the administration finds $100 million in efficiencies every working day for the rest of the Obama administration’s first term. That’s still around $80 billion, or around 2% of one year’s federal spending.

    OK, politics is theater. But you could argue that the president shouldn’t feed the bogus claim that we can close fiscal gaps by eliminating a bit of waste.

    [youtube]http://www.youtube.com/watch?v=cWt8hTayupE[/youtube]

    Posted in Ongoing Priorities [slideshow_deploy]

    6 Responses to Save Those Pennies: Obama's "Cuts" Are Bogus

    1. Ken Newton says:

      This is so cruel to the wave of seniors coming up to retirement. We have lost most of our savings and I fear for our pensions and social security

    2. George Serniuk, West says:

      The example of the penny and Obama's budget is one of many examples of lies or distortions being told to people throughout this land. Within an advanced Nation like ours, these lies and distortions should be considered as a treasonous act of the highest order with the punishment of death by beheading because there are many Americans that can be deceived by dishonest retoric. This wonderful Nation deserves much better than a bunch of lying polititions with the intent to deceive the people. The present financial crisis is a good example of lies being used to cover up the real reason for the financial disaster. Liers should be eradicated as we would like to eradicate the swine flu.

    3. Bender, Colorado says:

      By far, one of the greatest things ever made. Explained it perfectly. Kudos

    4. Ross, Florida says:

      When I was a kid, my grandfather was a retired farmer and received Social Security from the time it was enacted until he died in 1965 and never paid a penny into, as did my grandmother who died in 1994. When in High School, my civics teacher tried to explain Social Security to me. It didn't make sense. Finally my father explained it to me, he was a small business owner with employees. From that point on, when legislation was presented, my first question was how was it to be funded. The quick answer was "the government". Then I knew we were in trouble, because the government can only take from the people.

      My father retired and received all retirement benefits. When he died, I knew that he was the last generation to enjoy the full benefits of this "house of cards" built by Roosevelt, plundered by Johnson and the 'Great Society', and now being keep on lifesupport system by our socialist Democrats in congress.

      I have paid in all my life and worked hard. I have invested to build a retirement nest egg because I knew SS would not be enough. Now it is all but gone thanks to this 'crisis'. The punzi scheme is out of money, the nation is now in debt to where my great grandkids will have to pay 'our' bill and expect in nothing return. What a legacy!

      Rest assured the politicians have protected themselves and will live in luxury at taxpayer's expense. Meet the new elite, our trusted and faithful 'hired hands', our protector,…or political savior, our dream thieves.

    5. Pingback: The Barton Bulletin

    6. Michael Brady _ , Et says:

      Whats it matter any way, Everyone is too bussy struggleing to make it to listen, to see and understand whats about to happen to them ! There can still be hope for our future in all this, this Country – USA – just has to open eyes and want it baddley enough NOT to lose it. Remember this all of you, in this United States we the people call our AMERICA, the CONSTITUTION is our freedom, not a privilege, but our rights !!!

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×