Budget

2011 Budget Video: a demonstration of the budget freeze

So, what kind of impact will Obama's budget "freeze" actually have on the budget?  Since, as they say, a picture is worth a thousand words, the following video says quite a bit...

Pass it on.

Filed under: 

Cutting the border budget

Since the State of the Union speech, (or really since the Scott Brown win in Massachusetts), Barack Obama has been working to polish his "fiscal accountability" credentials.

He told Congress that he wanted to institute a freeze on all "discretionary" domestic spending, which is another way of saying "everything except Social Security, Medicaid, Medicare, defense, interest payments, stimulus spending, bailouts and anything we want to call an 'emergency'".  This means that the "freeze" is projected to apply to about $450 billion (or 13%) of a $3.5 trillion dollar budget.

This is essentially like putting a smiley face on a death certificate.  Or rather a "fiscal death certificate", considering his new budget projects the biggest deficit in American history and a national debt of about $20 trillion in the next decade.

So while we're continuing to "not" freeze spending on entitlement programs, what exactly are we cutting? According to USA Today:

Syndicate content