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Obama Touts $17 Billion ‘lot of money’ Budget Cuts

Submitted by FWO3 on May 7, 2009 – 4:10 pmOne Comment
Obama Touts $17 Billion ‘lot of money’ Budget Cuts

President Barack Obama sent Congress a detailed budget Thursday boasting of cutting or killing 121 federal programs in a belt-tightening he likened to that of most Americans in difficult times. But the trims amounted to a tiny fraction of the new spending he wants, and some have already been nixed by allies on Capitol Hill.

Obama said his cuts would amount to $17 billion — in a budget totaling well over $3 trillion for the fiscal year that begins in October. He’s estimating the government’s red ink will still be about $1.2 trillion, down only slightly from this year’s all-time record.

Republicans scoffed that Obama’s cuts were not nearly enough. “They appear to be a diversionary tactic — an effort to change the subject away from the unprecedented debt this budget heaps on future generations,” said House Republican Leader John Boehner of Ohio.By TOM RAUM and ANDREW TAYLOR, Associated Press Writers. Click to continue reading.

Forbarackobamaonline.com

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