Stay Unreasonable | Michael D. Tanner | Cato Institute: Commentary

Stay Unreasonable | Michael D. Tanner | Cato Institute: Commentary: "The spending cuts were a reduction from 2010 spending levels, the same levels that were contained in the 'continuing resolution' that Congress passed in December to fund the government through March 4. In 2010, the federal government spent $3.46 trillion. Assuming a 2010 baseline for this year's budget makes those 'draconian' budget cuts equal to just 1.7 percent of this year's federal spending.
Or look at it another way. The administration just announced that it expects this year's budget deficit to be $1.65 trillion. Thus, the House's budget cuts amounted to 3.6 percent of the deficit. Think about that: Republicans just cut less than 4 percent of the spending that we don't have the money to pay for. Heck, our budget deficit for last month was $48 billion, so apparently we've covered January. Whew!"

"This is like taking a cupcake away from the world's fattest man and having somebody scream that he's starving."