- The Foundry: Conservative Policy News from The Heritage Foundation - http://blog.heritage.org -

Save Those Pennies: Obama's "Cuts" Are Bogus

Posted By Gerrit Lansing On April 27, 2009 @ 2:16 pm In Ongoing Priorities | Comments Disabled

President Barack Obama is attempting the mitigate the sting of his astronomical spending spree [1]during his first 100 days by lauding a forthcoming $100 million [2] spending cut. Heritage budget expert Brian Riedl has some real ideas [3] on how to save money and grow the economy, but in the meantime even liberal superstar Paul Krugman thinks this is chump change [4]:

‘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.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2009/04/27/save-those-pennies-obamas-cuts-are-bogus/

URLs in this post:

[1] astronomical spending spree : http://stopspendingourfuture.org/#

[2] $100 million: http://www.foundry.org/2009/04/21/obama-not-as-funny-as-mike-myers/

[3] Brian Riedl has some real ideas: http://www.heritage.org/Research/Budget/wm2377.cfm

[4] thinks this is chump change: http://krugman.blogs.nytimes.com/2009/04/20/100-million-here-100-million-there/

Copyright © 2011 The Heritage Foundation. All rights reserved.