From the Heritage Foundation - Obama's spending cuts illustrated. Everyone understands pictures and this illustration makes a great point. You have to look closely to get the "point", but it certainly puts his spending and deficits in perspective.
According to reports, President Barack Obama plans to convene his Cabinet for the first time today, where he will order members to identify a combined $100 million in budget cuts over the next 90 days. Just how laughable is Obama’s latest stunt to try to maintain his “fiscal responsibility” credentials? This graphic from Heritage’s John Fleming might help:
Harvard University economics professor Greg Mankiw’s comments:
According to reports, President Barack Obama plans to convene his Cabinet for the first time today, where he will order members to identify a combined $100 million in budget cuts over the next 90 days. Just how laughable is Obama’s latest stunt to try to maintain his “fiscal responsibility” credentials? This graphic from Heritage’s John Fleming might help:
Harvard University economics professor Greg Mankiw’s comments:
"To put those numbers in perspective, imagine that the head of a household with annual spending of $100,000 called everyone in the family together to deal with a $34,000 budget shortfall. How much would he or she announce that spending had to be cut? By $3 over the course of the year–approximately the cost of one latte at Starbucks. The other $33,997? We can put that on the family credit card and worry about it next year.”
This also illustrates what the "Tea Parties" were all about - not necessarily our income taxation level this year, but the taxation that will be necessary in the future due to Obama's irresponsible fiscal policy.
This also illustrates what the "Tea Parties" were all about - not necessarily our income taxation level this year, but the taxation that will be necessary in the future due to Obama's irresponsible fiscal policy.
