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You are here: MacNN Forums > Community > MacNN Lounge > Political/War Lounge > True Budget savings not $38B, but only $352M

True Budget savings not $38B, but only $352M
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turtle777
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Apr 13, 2011, 05:38 PM
 
$38 Billion In Cuts? Make That $353 Million | zero hedge

The Congressional Budget Office estimate shows that the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending.
WTF ? Unf*ckingbelivable. I'm speechless.

All those politicians in Washington should be shot immediately.
After weeks of bickering, they come up with true savings of 0.0093%.

We are so %$@#ed.

-t
     
Big Mac
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Apr 13, 2011, 05:47 PM
 
Bohener and other Republicans dispute this type of claim, but it is true that some (much?) of the savings is budgetary trickery. Remember though, we're dealing with a left-wing controlled Senate and White House, both of which were formerly opposed to any cuts. Even the House is only partially held by fiscal conservatives. Blame the American people for not demanding fiscal sanity in greater numbers.

"The natural progress of things is for liberty to yield and government to gain ground." TJ
     
turtle777  (op)
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Apr 13, 2011, 05:55 PM
 
The credit markets ultimately will deal with it.

We WILL get our Greek moment in the US.

-t
     
Athens
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Apr 13, 2011, 06:25 PM
 
Guess more money is needed to go into Libya, to increase military spending by 8 Billion.
Blandine Bureau 1940 - 2011
Missed 2012 by 3 days, RIP Grandma :-(
     
turtle777  (op)
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Apr 13, 2011, 06:26 PM
 
Originally Posted by Athens View Post
Guess more money is needed to go into Libya, to increase military spending by 8 Billion.
Yes, and of course, this is all Bush's fault.

Oh, wait.

-t
     
Athens
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Apr 13, 2011, 07:27 PM
 
How the hell is it Bush's fault.....
Blandine Bureau 1940 - 2011
Missed 2012 by 3 days, RIP Grandma :-(
     
Laminar
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Apr 13, 2011, 07:47 PM
 
Originally Posted by Athens View Post
How the hell is it Bush's fault.....
     
Big Mac
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Apr 13, 2011, 08:05 PM
 
Howard Dean said the Republicans "hate Medicare, hate the Welfare state." Absolutely right!

It's time to repeal the financial disaster known as the Great Society. It's time for able-bodied, able-minded Americans to stand on their own two feet and save for their own retirement needs. It's time to slash the federal government back to a sane level and take back our liberty before it's too late.

"The natural progress of things is for liberty to yield and government to gain ground." TJ
     
turtle777  (op)
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Apr 13, 2011, 10:04 PM
 
Originally Posted by Athens View Post
How the hell is it Bush's fault.....


-t
     
ghporter
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Apr 14, 2011, 07:32 AM
 
Duh. Politicians got soundbites and got to bluster about their ideologies without doing a darn thing in real terms. How are we supposed to be surprised? When the key turning point was the president "giving" Behner abortion in D.C., were we supposed to think this was about anything other than the new House majority playing bully? That's a tradition!

Yes I'm horribly disappointed, but I am hardly surprised.

Glenn -----OTR/L, MOT, Tx
     
OAW
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Apr 14, 2011, 11:54 AM
 
It's all about how you define a "spending cut".

Appropriation - a sum of money or total of assets devoted to a special purpose.

Expenditure - the action of spending funds

The overwhelming majority of the 38 billion comes from the appropriation category it would seem. So the government's authority to spend funds for certain purposes has been cut. But most of these things weren't funds that were actively being spent in this fiscal year. And we have people threatening to shut the government down over this political theater.

OAW
     
turtle777  (op)
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Apr 14, 2011, 12:27 PM
 
To use appropriations as a "cut" is bullshit.

The US is running a $1.7 Trillion deficit. Every single $ of this has to be printed if it's not cut.
"Cutting" appropriations does NOT AT ALL reduce the $1.7 Trillion deficit; if you cut appropriations, the same $1.7 Trillion still has to be printed.

-t
     
OAW
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Apr 14, 2011, 01:17 PM
 
Oh I'm not disagreeing with you turtle777. As Brother Malcolm once said ...

"Oh I say and I say it again. You been had! You been took! You been hoodwinked! Bamboozled! Led astray! Run amok! This is what he does ...."

That's politicians for you ....

OAW
     
ebuddy
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Apr 14, 2011, 06:39 PM
 
Originally Posted by Big Mac View Post
Bohener and other Republicans dispute this type of claim, but it is true that some (much?) of the savings is budgetary trickery. Remember though, we're dealing with a left-wing controlled Senate and White House, both of which were formerly opposed to any cuts. Even the House is only partially held by fiscal conservatives. Blame the American people for not demanding fiscal sanity in greater numbers.
We'll see how strong their stomaches are during the debate over raising the debt ceiling. Republicans act like they'll put up a big fight and they may pick off a couple of hypocritical Dems from 2006, but ultimately the posture will fail. No one wants to steward a US default on obligations, they'll back down, and the spending will continue albeit a possible, infinitesimally small decrease in the absurd rate of increase.
ebuddy
     
   
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