President Obama vowed today that “every taxpeyer dollar spent is spent wisely.” He said that Joe Biden has oversight for the program.
O.K., like President Obama I am better at public appearances and big talk than say, math. But if I get this right, Barack Obama hosted his first White House cabinet meeting today with the goal of cutting $100 Million from the federal budget. The debt owed to China, already, excluding interest, is about $1 trillion.
So the big deal today is a goal for the cabinet to cut 1 ten thousandth from the debt owed China….
The federal budget is $3.5 trillion …..
One hundred million dollars ($100M) is about about 1/35,000 of 2010 spending…..
The federal deficit for March alone was $192.3 billion, and $100 million would represent about one-twentieth of 1 percent of that. Obama has brought forward a $3.6 trillion budget for the 2010 fiscal year, beginning Oct. 1, a proposal that would produce $9.3 trillion in deficits over the next decade.
I’ll bet the Pentagon wastes $100 million in an afternoon……
The Washington Post lowballed the cabinet meeting this way:
Although the budget cuts would amount to a minuscule portion of federal spending, they are intended to signal the president’s determination to cut spending and reform government, the official said.
$100 million in savings is a small amount, but the White House wants to demonstrate fiscal responsibility.
“Fork over 1 ten thousandth or when we meet again in three months I’ll be really angry….”
So….if I worked in a little company and all the department heads made about $50,000 a year and the CEO asked us all to give up 1 ten thousandth….that would be $5.00 from each of us and the CEO could buy a round of Happy Meals….
Fill er up!
Another way to look at this is, Barack Obama couln’t take a long trip on Air Force One for $100 million….
Or maybe cutting Nancy Pelosi’s Air Force travel could save $100 million. What do ya think?
So the cabinet meeting today is a publicity stunt just like the recent trips to Mexico, Trinidad and Europe….
From Fox News
In what amounts to a scene out of Hollywood’s version of executive power, President Obama will convene his first Cabinet meeting this morning and order his department chiefs to immediately cut a combined $100 million from their budgets.
Like the main character in the fantasy “Dave,” Obama appears to be trying to work the nation’s books, though the $100 million figure amounts to a drop in the $3.5 trillion bucket given preliminary approval earlier this month by Congress.
And, it does little to erase the more than $1.2 trillion deficit that has become the rallying cry of fiscal conservatives.
Obama will be asking each department and agency chief for specific proposals for trimming their budgets. He says families are having to make tough financial decisions and need to know the government is spending their money wisely, too.
Read the rest from fox news: