$38 Billion In Cuts? Make That $353 Million

[stockholmer]

http://www.zerohedge.com/article/38-billion-cuts-make-353-million

Warning: people on blood pressure medication are urged not to read this.

"Yesterday the media had a field day when it was uncovered that the hard fought $38 billion in budget "cuts" which almost caused America to shut down were in reality $14 billion. We, thus, can't wait to find out what the response will be when it is uncovered that the actual cuts were... $353 million. Yes: the ongoing functioning of the government was a pawn in a soap opera whose benefit to the US debt is $353 million, or about what Goldman's trading desk makes in less than one day.


From Washington Post: http://www.washingtonpost.com/business/cbo-budget-deal-cuts-this-fiscal-years-deficit-by-just-353-million-not-38-billion-touted/2011/04/13/AFFJnkWD_story.html

A new budget estimate released Wednesday says that the spending bill negotiated between President Barack Obama and House Speaker John Boehner would produce less than 1 percent of the $38 billion in claimed savings by the end of this budget year.

The Congressional Budget Office estimate shows that the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending........"