"President Obama is taking a scalpel, instead of an axe,
to the federal budget" (Mike Emanuel, FOX NEWS).
President Obama recently made a list of 121 budget cuts that would total around 17 billion dollars. While talking about his budget cuts Obama discusses the difficulties that come with budget cutting,
"For every dollar we seek to save there will be those who have an interest in seeing it spent, butat this moment--at this difficult time for our nation--we cannot accept business as usual, we cannot accept anything less than a government ready to meet the challenges of our time. But $17 billion a year is not chump change by anyone's accounting"
Although this is very true, $17 billion a year is only about .5% of the $3.4 trillion Congress approved in spending for the next year. Sen. Judd Gregg of the Senate Budget Committee is not happy about the new budget plans. "It's as if you took a teaspoon of water our of the bathtub while you left the spicket on a full speed". Sen. Judd along with many others fear the debt America is continuing to climb into will soon put us at the level of a third world country status.Now I understand that budget cuts and saving money that is needed to be spent is going to be a long difficult task. What I am concerned about is that the money that is going to be saved and cut is just going to be funneled back into other programs to increase their funding. The fact that Obama is pleased with only 121 budget cuts not even enough to cover 1% of the upcoming trillions of dollars being spent, makes me think that we are going to have a big problem, and that the "Great Recession" is going to be an issue greater than the "Great Depression".
