Obama proposed a $17 billion spending cut. At the same time he is pushing $3.4 trillion budget. The cut will not do much t curtail the $1.17 trillion deficit. At least $17 billion is more than the $100 million he wanted trimmed (Berman Post: Obama's $100M budget Cut Visualized). About half of the cuts come from defense programs. His proposal is running into opposition in Congress.
More at http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050702001_pf.html, http://www.bloomberg.com/apps/news?pid=20601087&sid=aFoD4LsL9QPE&refer=worldwide, and http://www.reuters.com/article/politicsNews/idUKTRE54647Y20090507.
Thursday, May 7, 2009
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