Posted by
Tom L. on Tuesday, January 26, 2010 12:05:59 PM
Let’s say I was making $22,000 a year and spending $35,500 a year.
At the end of the year I would owe $13,500.
To solve the problem, I decide to cut my spending by $100.
Think that will solve my problems?
Basically, this is what President Obama going to propose in his SOTU address.
U.S. annual budget 2010
$3,550,000,000,000 – $3.55 trillion
Mandatory spending: $2.184 trillion (+15.6% increase over 2009)
“Discretionary” spending: $1.368 trillion (+13.1% increase over 2009)
Proposed freeze does not include Mandatory spending or the following “Discretionary” spending:
$663.7 billion - Department of Defense
$52.5 billion - Department of Veterans Affairs
$42.7 billion - Department of Homeland Security
$51.7 billion - Department of State and Other International Programs
Deficit is forecast $1.35 trillion
$10 billion – annual “savings” to be proposed by Obama
Less than .3% three-thenths of one percent