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Obama’s Spending vs Obama’s Spending Cuts
Category: ObamanomicsApparently the Tea Parties struck home with Uncle O. In an attempt to appease the lefty media’s vulgarly tagged “teabaggers” cries for fiscal responsibility, Obama has called upon his cabinet to slash $100 million from the federal budget. Sounds substantial enough, but don’t be fooled by Chairman O and his henchman’s veiled attempt to hide the truth. To put the numbers in perspective, The Heritage Foundation has provided this telling graphic to illustrate the insignificance of Obama’s lame attempt at projecting any sense of fiscal responsibility.
Expounds Harvard University ecomomic professor Greg Mankiw:
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 to 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.
h/t: Moonbattery, The Rush Limbaugh Show
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Great illustration! Should be required reading for the media lap dogs at CNN.
Comrade Press Secretary Robert Gibbs tried yesterday to make this seem significant. In light of the outrageous stimulus and budget spending, His cuts are meaningless. But… it will allow CNN to present Obama as a fiscal conservative who cuts the budget.
All of us need to monitor CNN and the other media shills that try to present this as significant.