tag:blogger.com,1999:blog-19111384.post2952390810617381844..comments2024-03-24T17:06:47.135-04:00Comments on Story Bones: Linkee-poo wonders if it's too late to self medicateSteve Buchheithttp://www.blogger.com/profile/12999709767641212586noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-19111384.post-12949260532151462222011-02-17T20:29:05.211-05:002011-02-17T20:29:05.211-05:00And you're not meant to compare the two, becau...<i>And you're not meant to compare the two, because both sides win when you can't (or, in other words, both sides are performing accounting tricks to boost their numbers, and they really aren't comparable). </i><br /><br />Probably the truest words I've heard all day.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19111384.post-6994321779650623512011-02-17T13:04:43.400-05:002011-02-17T13:04:43.400-05:00It depends on where you draw the starting and endi...It depends on where you draw the starting and ending lines, and what you include. Those $100b in cuts are in what was requested, but never approved. Going from the last approved budget, the number is actually around $61b. But even that is a misnomer, as we are halfway through the year (running at previous spending levels), so with just quick math, those cuts only will amount to $30.5 b in actual money (pro-rated because we're halfway through), and that's only if Congress gets it to the President's desk sometime this month (not likely - fiscal year starts in October). <br /><br />And you're not meant to compare the two, because both sides win when you can't (or, in other words, both sides are performing accounting tricks to boost their numbers, and they really aren't comparable). <br /><br />And Obama's budget cuts the actual $'s going out (by a large portion if you add in TARP and the Stimulus). This is the fun of government numbers (which is why I'm being so blithe about it). You can do some accounting tricks and get it to show how you're spending more.<br /><br />You also might want to remember that Obama froze government salaries, which saved something in the order of $70 m, which would multiply to $1.2 trillion over a decade. You might also remember the ribbing the conservatives gave him for making such a move. <br /><br />Remember how TARP was going to be $7+ Trillion? Yeah, well, looks like it's more going to cost us $68 B, and that's before you count in both the profit realized and interest paid. Now, it was $6.5 trillion out the door, but most of it came back (with interest). Sort of how when we spend money in the Village we automatically get a 1% reduction in wages spent (because that's our income tax). <br /><br />Also, when people talk about "cutting that foreign aid", it's less than 1% of the total budget and something close to 80% comes back to the US in contracts with our industries (like Egypt's, guess who they buy much of their weapons from). I wish I could find the article again, but it's estimated that for each $1 we spend in foreign aid, the US gets $1.20 back.Steve Buchheithttps://www.blogger.com/profile/12999709767641212586noreply@blogger.comtag:blogger.com,1999:blog-19111384.post-17873354563561569822011-02-17T12:01:24.730-05:002011-02-17T12:01:24.730-05:00Are we sure we're talking apples and apples he...Are we sure we're talking apples and apples here? The $100B cuts I've heard about are immediate; Obama's stretch out over a decade, right? How do we compare the two?<br /><br />I've also read about Obama's budget actually appropriating MORE spending next year. I'm confused. <br /><br />ACAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19111384.post-41371156572215385382011-02-17T10:11:29.530-05:002011-02-17T10:11:29.530-05:00I haven't heard the number reported for next y...I haven't heard the number reported for next year. The only number I could find was $775 M, however a quick tally of some of the cuts (like Great Lakes funds, heat programs, etc), takes me over $1 B (I'm sure the difference is probably in where funding in increased). The only number I've seen touted by the administration was $1.1 trillion over the next decade (however, some of that is from letting the Bush Era tax cuts for those making over $250,000 expire in two years). <br /><br />And now we have closer numbers for the Republican proposed cuts, which put us at around $61B over the previous spending bill that was approved. <br /><br />Just some things to keep in mind. The president's budget is not mandated by the Constitution, but is a cutesy to Congress which has the powers to set the budget and the appropriations. And the budget is nothing. It's the appropriations that really matter (as that is the "budget" that most people are thinking about when they think "budget", the budget the President sends over is more of a long term wish list, it's the appropriation legislation that actually allows the government to spend money).Steve Buchheithttps://www.blogger.com/profile/12999709767641212586noreply@blogger.comtag:blogger.com,1999:blog-19111384.post-51416950317122124652011-02-16T23:25:20.224-05:002011-02-16T23:25:20.224-05:00How much does Obama's budget cut?
Anonymous C...How much does Obama's budget cut?<br /><br />Anonymous CassieAnonymousnoreply@blogger.com