As Don Boudreaux points out, cutting the federal budget by $100 million is the same as a family which plans to spend $75,000 this year, with $50,000 in income, cutting $2.08 out of their household budget to reduce their borrowing. NRO’s The Corner notes that $100 million is just a rounding error in a local office of a federal agency. In fact, the US News articles notes that the federal budget is $3.5 Trillion – a $100 million cut would thus respresent a $3.4999 Trillion Budget.
President Obama has told his cabinet he want to them to cut $100 million from the federal budget to demonstrate fiscal responsibility. While $100 million is certainly a lot of money if it were deposited in my bank account, considered the vastness of federal spending, it is laughable to think such a cut represents fiscal responsibility.