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For Obama, a Cautionary Tale on Budget Cuts
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ShareNovember 25, 2008 4:04 PM
ABC News' Jonathan Karl Reports: When President-elect Obama promised today to "scour our federal budget, line by line, and make meaningful cuts" he sounded like the current president.
"Just as we trust Americans with their own money, we need to earn their trust by spending their tax dollars wisely," President Bush said during his State of the Union address on January 28. "Next week, I'll send you a budget that terminates or substantially reduces 151 wasteful or bloated programs, totaling more than $18 billion."
True to his word, President Bush's 2009 budget submission proposed to "terminate or reduce 151 discretionary programs" and calculated that making all 151 of those cuts would reduce 2009 spending by $18 billion.
Given the size of the deficit (it was more than $430 billion last year), $18 billion in savings is quite modest. But how many of those 151 programs were ultimately eliminated?
None. Instead Congress added an extra $20 billion in spending.
November 25, 2008 in Bush, George W., Obama, Barack, Vote 2008: Democrats, Vote 2008: Republicans, Washington, White House | Permalink | User Comments (4)
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But how will The One pay for New Deal 2.0 which he just promised us this week?
Posted by: Skepticism is Patriotic | Nov 25, 2008 4:12:59 PM
18 Billion...isn't that roughly the same 'small potatoes' the Libs, Obama and the MSM were downplaying concerning McCain's stance on earmark spending? A few weeks a go a few billion saved was not worthy of notice.
Posted by: Grand Old Party | Nov 25, 2008 5:30:36 PM
Obama Promises that Change is on the Way
==============
Any minute now.
Posted by: fat cat | Nov 25, 2008 5:55:32 PM
Welcome how things really work in our government.....
A.) The President submits a budegt to Congress
B.) Congress debates & alters the budget and then submits it back to the President.
C.) The President either accepts & signs it into law, or he can VETO it.
D.) If the budget is VETOed, the congress either overrides the VETO, or they go back to Step B.
Congress will ALWAYS...ALWAYS add some extras!
Posted by: Mike_C | Nov 26, 2008 9:26:51 AM
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