The Prez held a press conference today outlining cutting federal spending on wasteful programs to a tune of $17 Billion. Sure that sounds like a lot of cash, but it ain't much when you're dealing with $3.5T budget. As an analogy, it'd be like if you were $150,000 in the hole to angry Chinese mobsters, living on $1000/week, and decided it was time to cut back on your Saturday morning bagel with cream cheese and lox. From Political Punch:
The president laid out a number of examples of the more than 100 programs that will face cuts or termination, saying that many of them were outdated or ineffective.The real problem with the budget is that entitlement spending (Social Security, Medicare, Medicaid) is out of control, rife with fraud, and will only get worse as the boomers approach geezerdom. In Obama's defense, it's difficult to have the political capital to take on these leviathans, because no politician has the mojo. If Jesus himself came down to become Messiah-in-Chief of America, he probably wouldn't be able to cut back on Social Security without fear of an AARP smear campaign.
The $17 billion in cuts add up to roughly one half of one percent of the $3.55 trillion budget. Still, the president said the savings are significant.
"These savings, large and small, add up. The 121 budget cuts we are announcing today will save taxpayers nearly $17 billion next year alone. That’s a lot of money, even by Washington standards," he said.
When America is reduced to ashes being crushed by its exorbitant debt, remember that Democracy has it's own pitfalls as people tend to vote "What's in it For Me?" instead of any long-term viable strategy for the republic.