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Author: DufusGoneSplat Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1966895  
Subject: Re: Woodward esposes Obama as a LIAR Date: 2/23/2013 3:24 PM
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DGS - the ONLY recent bi-partisan agreement to significantly cut spending

WL - I'm sorry. Perhaps I have misunderstood. Has actual spending been cut?
I had understood that only budgets were cut meaning spending would still increase but at a lower rate.


Good question - a question I do not have time to research right now. But, I can give two quick responses;

1. If you look at Obama's submitted budget projections, take $85 billion from either 2013 or 2014 Outlays and compare that number to the previous year's projected Outlay. It looks like a spending cut.

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2...

2. The media frequently refer to "spending cuts", so if that's not the case, it's carelessness on my part. But, as The Wall Street Journal notes;

How Federal Spending Would Be Cut Under the Sequester

1) Defense spending, which includes Pentagon and defense intelligence spending, accounts for half the sequester cuts. Many of these programs will be reduced by roughly 13% over seven months.

2) Non-defense spending. This would include housing, education, or transportation programs.

3) Medicare. There will be a 2% cut in the payments to Medicare providers, such as hospitals and doctors.


http://online.wsj.com/article/SB1000142412788732354920457832...
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