Oooooh, scary!

Barack Obama is poised to announce $1.1tn (£687bn) in budget cuts tomorrow in a 10-year deficit reduction plan to avert a budget crisis and silence the conservative opposition.

So, $110 billion a year, on average. Current deficit (yes, deficit, not debt or spending) is $1.4 trillion. So he\’s cutting the deficit by 7.9 % a year.

Woo Hoo!

Total spending is around the $3 trillion mark, meaning spending is being cut by 4 % ish.

And the national debt is some $14 trillion, meaning he might cut 0.8% off that (umm, cut 0.8% off the rise in it actually).

Tight fisted bastard with other peoples\’ money, ain\’t he?

2 thoughts on “Oooooh, scary!”

  1. The question at this point is not whether he’s a christian, muslim or atheist. The question is whether or not he is sane – and, hi-ho, the deficit is projected to be $1.6 trillion. Almost 10% of GDP, for the third year in a row.

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