We are still five days away from the unveiling of the President’s 2012 Budget, yet the number-crunching and long-term analysis are in full swing. Senator Rand Paul has been making the rounds this week, touting his proposal to slice $500 billion dollars from the budget while White House Budget Director Jack Lew penned a piece for the New York Times that let us all know the President made some “tough choices” when cutting an estimated $775 million from the 3.8 TRILLION dollar budget. (By the way, $1.5 Trillion of that is CBO estimated deficit spending, or money we will have to borrow from someone.) Of course there are some savings to be had if the five year spending freeze is accomplished, estimates say $400 Billion over 10 years.
The 3.8 Trillion dollar number is staggering enough, but looms even larger when you consider it against the President’s proposed $775 million dollars in tough choice cuts. Doug Ross (a real person and not George Clooney’s “ER” character) posted these charts to help us understand.
It is difficult to see the cuts, so Doug zoomed in a little for us.
Still can’t see the cuts? Zooming in another 10xs
There it is! $775 million. Wow, that’s some serious budget cutting on display.