The President has proposed budget cuts of $775 million in the $3.8 trillion federal budget. The deficit is projected at $1.5 trillion for the year. To put this in practical terms, if this was an average family, they have $60,000 in income and they are spending $100,000. They are putting $40,000 a year on their credit cards.
To cut what President Obama is proposing is equivalent to cutting about .0002 (that's 2/100 of 1%) of total spending. Or about $20 on the $100,000 that family is spending. Now they will only need to borrow $39,980 to maintain their lifestyle.
Doug Ross writes a blog( http://directorblue.blogspot.com/2011/02/obamas-tough-budget-cuts-in-pictures.html) that illustrates the magnitude of the President's budget cuts in more graphic fashion. After all, a picture is worth
The first chart shows the total budget and the amount of deficit spending. It also shows the size of the proposed cuts in green. Do you see them?
Do you see it now? Do you understand the magnitude of the mess we are in?
This is leadership?
"about $20 on the $100,000 that family is spending." That really puts things in perspective...
ReplyDeleteThis student also puts it in perspective...
ReplyDeletehttp://wimp.com/budgetcuts/