Government spending out of control, Not any more..

[Dave007inVegas]

Mon Apr 20, 2009 11:54am EDT

WASHINGTON (Reuters) - President Barack Obama will challenge government agencies to cut $100 million in spending when he holds his first Cabinet meeting on Monday, an administration official said.

"Agencies will be required to report back with their savings at the end of 90 days," the official said.

Republicans have accused the president and the Democratic-controlled Congress of wasteful spending, saying Obama's $3.5 trillion 2010 budget plan carries too much deficit spending and too few tax cuts.

The United States posted a record $956.8 billion budget deficit for the first half of fiscal 2009, more than three times the shortfall of a year ago, the Treasury Department reported earlier this month.

Much of the deficit was caused by spending on financial and economic rescue programs aimed at propping up companies whose collapse could worsen the global recession.

"Without significant change to steer away from ever-expanding deficits and debt, we are on an unsustainable course," Obama said in his weekly radio address on Saturday.
Duh? Ya think?

The administration official said that in asking his Cabinet to find the $100 million in spending cuts, he would point to examples of savings that government agencies had already begun to implement.

The Department of Homeland Security estimated that it could save up to $52 million over five years by buying office supplies in bulk, the official said.

Obama has vowed to halve the United States' deficit, to $533 billion, by 2013.

Lets see… $3.5 trillion 2010 budget plan minus $100 million = $3.4 trillion.
Way to slash that spending <<

 

[barman]

Hey Dave....a million bucks inside the Beltway is about 114 seconds of spending.

Ya gotta start somewhere

 

[barman]

Lets see… $3.5 trillion 2010 budget plan minus $100 million = $3.4 trillion.
Way to slash that spending <<

Actually, that's still a $3,499,900,000 budget

But I know you knew that thanks to your public school education paid in large part by the federal government.

 

[DeathEatsaCracker]

This is a good thing. Now the government will have more money to give to insolvent banks.

 

[Dave007inVegas]

Actually, that's still a $3,499,900,000 budget

But I know you knew that thanks to your public school education paid in large part by the federal government.

:lol: Damn those public schools :ears:

 

[rolltide]

read this story earlier today and have been laughing ever since. love BHO's comment..."We need to restore the American people's confidence in their government -- that it is on their side, spending their money wisely, to meet their families' needs."

no doubt the way to restore confidence is cutting $100M from $3,500,000,000,000.00...what is that...less than 3/1000 of a percent?

let's just say that if he "challenged" his cabinet to cut 1% (Yes, I said ONE) off the budget that would be 35 BILLION

 

[mr21]

$100 million isn't even a drop in the bucket compared to the hundreds of billions that Halliburton defrauded the gov't

 

[Dave007inVegas]

Roll, mine was more a laugh of sarcasm. Anyone with any business experience could cut 5% and no one would even notice. Actually I can’t believe BO announced this and even worse I can’t believe it was reported, unless the reporter was trying to show it’s irrelevance. I know I was.
:homer:

 

[Dave007inVegas]

$100 million isn't even a drop in the bucket compared to the hundreds of billions that Halliburton defrauded the gov't

Congratulations, you’ve just made my list of people that should be thrown under the bus. ^<<^

 

[mr21]

Congratulations, you’ve just made my list of people that should be thrown under the bus. ^<<^

The short one that you ride daily to adult daycare?

 

[Presto]

This is where the article should have come from

WASHINGTON (The Onion) - President Barack Obama will challenge government agencies to cut $100 million in spending when he holds his first Cabinet meeting on Monday, an administration official said.

The interest on the $800 billion stimulus is nearly a hundred million a day.

 

[nhoj]

Equals about a .20 cent payment on a $35000 credit card bill to us poor folks.

 

[Willie99]

This is another great example of why I just can't take anything he says seriously. It's all about perception, and how his words will play to ignorant people. He has to know anyone with a clue with can only laugh, with the exception of the cheerleaders of course. I'm giving some cheerleaders credit for having a clue, very generous of me, don'tcha think.

"There is no pork in the stimulus bill" @)

 

[rolltide]

This is another great example of why I just can't take anything he says seriously. It's all about perception, and how his words will play to ignorant people.

totally agree but the media have a lot of responsibility in this. yesterday I did a google news search for "100 million budget cut" and 1176 news items on this one issue appeared. we can all agree on how insignificant 100M is vs a 3.5T budget but the media plays right into his hands by making this front page news. while i found humor in it, unfortunately, 50M other people took this as serious news and more proof that BHO is their savior

 

[mplastered]

On your knees before him. He'll get my respect the day the Pirates break .500. Uh oh!

 

[Dave007inVegas]

The short one that you ride daily to adult daycare?

:lol: Man that was lame. If you’re going to throw a zinger, take some time and think of a good one.

 

[Georgiaboy]

Heard on Boortz today that it equates to a 300lb person going on a diet and losing 1/10th of 1 ounce. Nice job Prez BO, nice job.

 

[Willie99]

$100 million isn't even a drop in the bucket compared to the hundreds of billions that Halliburton defrauded the gov't

LOL, I guess that this is your acknowledgment that everything in the OP is correct, and $100 million in budget cuts is pure poppycock.

 

[Dave007inVegas]

WASHINGTON (Reuters) - President Barack Obama on Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's resources and urged a bigger stake in the IMF for emerging powers.

In a letter to U.S. congressional leaders, Obama said the U.S. funding "does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets."

This give a whole new meaning to accepted accounting principles.

Cut a $100 million, loan a $100 billion :WTF:

 

[Willie99]

WASHINGTON (Reuters) - President Barack Obama on Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's resources and urged a bigger stake in the IMF for emerging powers.

In a letter to U.S. congressional leaders, Obama said the U.S. funding "does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets."

This give a whole new meaning to accepted accounting principles.

Cut a $100 million, loan a $100 billion :WTF:

LOL, what asset are we getting in return again? Do you think we got a good deal? I hope Obama let a group of Jews or old country Italians negotiate for him, otherwise we probably paid too much.

No POTUS has ever placed less value on the words he chooses to speak, Obama's are worthless.