Monday, April 20th, 2009 | Author:

“$100 million here, $100 million there,
pretty soon even in Washington it adds up to real money.”

That’s what Obama said about his “cost-cutting” agenda. Now if that was $100 million to me, and then $100 million to you, that would have some impact, at least on a couple of us. But, please. If you compare it to the deficit or his budget, it’s a bit like draining the Atlantic Ocean, then offering the Brits a cup of tea as compensation.

“We also have a deficit, a confidence gap when it comes to the American people, and we’ve got to earn their trust.”

And he thinks this is going to do it? Either he’s dumber than I thought, or he thinks we are.

Here are a couple blog posts that help put it in perspective:

The Chestnut Tree Cafe: If you cut the same percentage of spending from a $75,000 annual income, you’d have to forego … $2.03 this year. (Thanks for doing the math, Jim!)

Lew Rockwell: If we stopped fighting the “war on terror” for one day, we’d save $200,000, twice Obama’s goal.

The Weekly Standard: To put those numbers 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 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.

National Review: The government will pay $100 million in interest per day over the next ten years on the stimulus bill.

Hot Compare this pittance to some of the other numbers that Obama has produced:

  • $100 million from a $3.5 trillion budget for FY2010: 0.0029%
  • $100 million from the $1.2 trillion White House deficit projection for their FY2010 budget: 0.008%
  • $100 million from the $700 billion Porkulus stimulus bill Obama demanded: 0.013%
  • $100 million from the $634 billion “down payment” on nationalized health care: 0.016%
  • $100 million from the $555 billion omnibus spending plan completing the 2009 budget: 0.018%
  • $100 million from the $13 billion in pork from the omnibus spending plan: 0.77%

The cuts that Obama proposes don’t even amount to 1% of the pork Obama signed into law last month in the omnibus spending bill.

The Palmetto Scoop: Unfortunately, it means the federal government will spend $4 trillion this year alone, according to the Congressional Budget Office.

If you do the math, that works out to $7.6 million in spending per minute. At that rate, Obama’s heralded $100 million budget cut will save us a whopping 13 minutes of spending.

Category: economics, Obama
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One Response
  1. ~ Sara ~ says:

    That is really putting it into perspective… Now if the vast majority could “taste and see” it.