DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Last Minute Budget Deal Reached; $38 Billion In Cuts For Remainder of Fiscal Year

**eropiereetuekm** · 09-04-2011, 03:56 PM

http://www.nytimes.com/2011/04/09/us...l.html?_r=1&hp

A deal to fund the gov't until next Thursday was reached, in which time both the House and Senate will pass and President Obama will sign next week the single-largest dollar cut in US history at an estimated $38 billion for the remainder of this fiscal year.

Throw in the other $10 billion in cuts from the already-passed House extensions from recent weeks and it adds up to nearly 80% of the pro-rated figure that House Republicans had sought at the beginning of their two-year term three months ago.

You know what I find remarkable....the Obama touts the "biggest spending cut in history" as a positive thing...and it is...to some extent...but if you really want t put things in perspective you also need to look at what happened a couple of years ago with the "stimulus"....at $787 Billion!!!

This spending cut is less than 5% of what was spent on the "stimulus". We'd need to make 20 cuts like this just to recover from the stimulus and another 20 to recover from TARP and even at that we haven't come close to addressing the really difficult problems of dealing with SS and MED.

09-04-2011, 03:56 PM	#22
eropiereetuekm Join Date Oct 2005 Posts 426 Senior Member	http://www.nytimes.com/2011/04/09/us...l.html?_r=1&hp A deal to fund the gov't until next Thursday was reached, in which time both the House and Senate will pass and President Obama will sign next week the single-largest dollar cut in US history at an estimated $38 billion for the remainder of this fiscal year. Throw in the other $10 billion in cuts from the already-passed House extensions from recent weeks and it adds up to nearly 80% of the pro-rated figure that House Republicans had sought at the beginning of their two-year term three months ago. You know what I find remarkable....the Obama touts the "biggest spending cut in history" as a positive thing...and it is...to some extent...but if you really want t put things in perspective you also need to look at what happened a couple of years ago with the "stimulus"....at $787 Billion!!! This spending cut is less than 5% of what was spent on the "stimulus". We'd need to make 20 cuts like this just to recover from the stimulus and another 20 to recover from TARP and even at that we haven't come close to addressing the really difficult problems of dealing with SS and MED.
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