Politico.com reports that President Obama is ordering some whopping spending cuts within the national government. The article states that he has ordered $100 million worth of spending cuts.
Remember during the campaign he criticized McCain for wanting to "use an ax, when what we really need is a scalpel" when it comes to the size of government? I think a tweezers would be a more accurate description.
To put it in perspective, economist Greg Mankiw did some basic math in a recent article. With a $3.5 TRILLION proposed budget for 2010, a teeny-tiny cut of $100 million represents just .003 of the proposed budget. And the proposed deficit is projected to be $1.2 TRILLION. The proposed cut represents only .008 percent of the DEFICIT. We've got a ways to go to eliminate that deficit completely!
This is just a drop in the bucket if we're going to balance our national budget, but I do applaud any spending cuts a big spending liberal will give me.
But I sure could go with John McCain's big ax right now.