Thursday, May 7, 2009

Obama budget cuts of $17 billion doesn't even scratch the surface.

Politics: Nothing more than 1.4% of the projected $1.2 TRILLION dollar deficit and half will come out of the defense budget which is no surprise considering Obaam lack of love for the military. When he starts to cut down on entitlement programs then I will know he is serious instead of this show.

President Obama on Thursday will unveil nearly $17 billion in additional budget cuts for the coming fiscal year to underscore what a top adviser called a “constant” effort to find savings at a time when the government’s costs for bailouts, health care and wars are mounting far faster.

The savings for the budget year starting Oct. 1 represent the sum of Mr. Obama’s promised “line by line” scrubbing of the federal budget. But, underscoring the nation’s fiscal plight, the proposed cuts represent about 1.4 percent of the $1.2 trillion deficit that is projected for the fiscal year 2010.

The president’s 10-year budget outline, released in February, shows the deficit declining by his final year in office to $533 billion, mostly through assumptions about economic growth when the recession ends that many economists consider somewhat optimistic.

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