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Posted: 1:17 p.m. Monday, April 20, 2009
By Jamie Dupree
There's two ways to look at the White House move on Monday to cut $100 million from federal government budgets: "It's a start," or "You've got to be kidding me."
For those who vented their frustration last week in various Tea Party related events, they will take the latter description, especially when you consider that saving $100 million when there are forecasts for a $1.2 trillion deficit is small time change.
On the other hand, maybe it's like saving for college - you can't do it all at once.
Republicans were only too glad to characterize the move as weak, when you consider the federal government will spend close to $4 trillion this year.
"$100 million only represents a .0025 percent cut from this budget," said a release from House GOP Leader John Boehner, who said it was time for some "fiscal sanity" from the Democrats.
Of course, Republican leaders weren't exactly leading the charge for major budget savings when the GOP was in charge of Congress during the Bush Administration.
During those eight years, the overall federal debt went from $5.7 trillion to almost $10 trillion. The GOP ran the show the first six years.
Luckily for Republicans, those figures are on track to be obliterated by Democrats and President Obama, who are predicting a deficit of over $1 trillion for next year, on top of the over $1 trillion for the current fiscal year.
(For those wondering, the debt during the Clinton years went from $4.3 to $5.7 trillion in eight years. How odd it is that many people might sign up for those times to return, where power was split between Republicans in Congress and Democrats in the White House for the last six years.)
So, once again, $100 million in federal spending savings is great. I'd love to make $100 million in a year.
But in the context of a deficit that's not $1 billion or $10 billion, or $100 billion, but over $1 trillion, that's not much money.
And it's even less when you realize that the cuts wouldn't be in the next fiscal year, but it would take years in some cases to total up to the $100 million.
I will let all of you administer the punch line in the comments section.
You can also follow Jamie Dupree on both Twitter and on Facebook.
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