SPIN METER: Saving federal money the easy way - Yahoo! Finance
Cut a latte or two out of your annual budget and you've just done as much belt-tightening as President Barack Obama asked of his Cabinet on Monday.
The thrifty measures Obama ordered for federal agencies are the equivalent of asking a family that spends $60,000 in a year to save $6.
Obama made his push for frugality the subject of his first Cabinet meeting, ensuring it would command the capital's attention. It also set off outbursts of mental math and scribbled calculations as political friend and foe tried to figure out its impact.
The bottom line: Not much.
Cut a latte or two out of your annual budget and you've just done as much belt-tightening as President Barack Obama asked of his Cabinet on Monday.
The thrifty measures Obama ordered for federal agencies are the equivalent of asking a family that spends $60,000 in a year to save $6.
Obama made his push for frugality the subject of his first Cabinet meeting, ensuring it would command the capital's attention. It also set off outbursts of mental math and scribbled calculations as political friend and foe tried to figure out its impact.
The bottom line: Not much.
Those who giveth can taketh it away.
Belt-tightening? During a recession, Obama threw a 170 million dollar party for himself.
The federal government estimates that it spent roughly $49 million on the inaugural weekend. Washington, D.C., Virginia and Maryland had requested another $75 million from the federal government to help pay for their share of police, fire and medical services.
That's more than the $42.3 million in private funds spent by President Bush's committee in 2005 or the $33 million spent for Bill Clinton's first inaugural in 1993.
The president gave his Cabinet 90 days to find $100 million in savings to achieve over time. Obama has promised that his administration will embrace budget reform. He vowed to "bring a long-overdue sense of responsibility and accountability to Washington" and warned that members of Congress won't be allowed to slip earmarks into the economic recovery package.
The Senate approved an $838 billion economic recovery package bill Tuesday, as Democrats held on to the few Republican supporters who helped hammer out a compromise measure.
With one stroke of the pen, President Obama vaulted into the record books , signing what may stand as the largest spending bill ever passed in the history of America. Instead of relieving debt, President Obama’s “stimulus” is expected to add $9,400 more debt to every family in America. According to the Congressional Budget Office. The 10-year cost of this bill will be $3.27 trillion–almost triple the initial amount. Let me put that into perspective. If we spent a dollar every second, it would take 31,688 years to spend one trillion!
Now he gave his cabinet 90 days to find $100 million in savings. This was just a photo-op. President Obama you may fool most of the people some of the time, but you can't fool most of the people all of the time. May I invite you to a tea party?
More post from Wag This Dog.
A Thousand people protest Obama Stimulus plan in 35 degree St. Louis weather.
Now Democrat Governor may reject stimulus aid like Republicans.
Hundreds protest President Obama's arrival in Arizona.
Enjoyed this post? Email a friend, Leave a comment, Subscribe to Wag This Dog, Link to any post.
Technorati Tags: barack obama
McCain On Obama Stimulus Plan
No comments:
Post a Comment