White House Cuts the Budget....by 2%

The White House's proposed budget for the 2012 fiscal year includes spending cuts of $1.1-trillion over 10 years (or $110B/yr). Two-thirds of this $1.1T (or $730B) are from spending cuts, the rest ($336B) is from projected revenue increases (which really isn't a spending cut at all is it?). Now for the easy math...

Current annual budget = $3.7T
(optimistically then, $37T over the next 10 years)

Proposed savings over these next 10 yrs = $730B

730,000,000,000 / 37,000,000,000,000 = .02 (or 2%)

Not really much to write home about....

See the article here.