Showing posts with label budget cuts. Show all posts
Showing posts with label budget cuts. Show all posts

Tuesday, January 4, 2011

"Small government" doesn't mean much these days

The New York Times reports on a proposed budget cut in Congress:
The incoming Republican majority in the House is moving to make good on its promise to cut $100 billion from domestic spending this year, a goal eagerly backed by conservatives but one carrying substantial political and economic risks.

House Republican leaders are so far not specifying which programs would bear the brunt of budget cutting, only what would escape it: spending for the military, domestic security and veterans.
Let's do some math. The total government expenses for 2011 are currently budgeted at $3.7 trillion. A cut of $100 billion is a measly 2.7%. The total deficit for the year is about $1.1 trillion. A cut of $100 billion will only alleviate about 9% of that. We're not making much progress, are we? And that's even if the Republicans are successful.