Thursday, April 14, 2011

Obama/Boehner Deal "Saves" Only $1 Per American

UPDATE: NEW HEADLINE... Republicans Looking to Increase Federal Budget Deficit by $3.3 Billion

The U.S. national debt is well over $14,000,000,000,000. The madcap officeholders in Washington have responded the problem with a new budget deal that cuts this fiscal year’s deficit by just $352 MILLION. That's MILLION with an "M", not BILLION with a "B".

Unfortunately, this is not a joke. Even the leftists at the Washington Post are aghast:
A new budget estimate released Wednesday shows that the spending bill negotiated between President Barack Obama and House Speaker John Boehner would produce less than 1 percent of the $38 billion in promised savings by the end of this budget year.

The Congressional Budget Office estimate shows that compared with current spending rates the spending bill due for a House vote Thursday would cut federal outlays from non-war accounts by just $352 million through Sept. 30...
$352 million dollars is about $1.14 per American.

Let me remind the folks at the Washington Post that Boehner originally promised $100 BILLION in cuts to out-of-control federal spending. Even that would have been a very modest down payment on our superastronomical debt. But now were down to 0.35% of the original promise (with cuts that amount to 0.0025% of the national debt).

Update: “total federal outlays will still rise by approximately $177 billion.” Yes, that says “rise” not “decrease.”

Update II: NRO: Strike One For John Boehner

Update III: My apologies. I was terribly wrong. Obama-Boehner Budget Adds $3.3 Billion to Deficit Rather than Saving $38 Billion


Mark Adams said...

This thing today needs to be shot down in flames on the vote, shutdown the government until they get their collective butts on the same pages as he American taxpayer.

Anonymous said...

This is why I've stopped blogging about D.C. politics, the ship is sunk.

Woodsterman (Odie) said...

No wonder I had trouble closing my wallet.