What 17 billion will buy you.
$17 billion is less than one half of 1% of the entire $3.55 trillion
FY10 budget.
Interest costs will be over $172 billion for FY10, or ten times what
the administration is proposing to save.
$17 billion is about 2% of the $787 billion stimulus bill passed on
February.
$17 billion is less than 5% of the interest expense created by the
stimulus bill.
Legislation signed by President Obama has added $422 billion to FY2010
deficit, about 25 times the FY2010 savings proposed in this budget.
The Federal government has already provided up to $173.4 billion in
financial assistance to AIG, or ten times what the administration is
proposing to cut from the budget.
The Federal government has already provided almost $36 billion in TARP
aid to the auto industry, or twice what he administration is proposing
to cut from the budget.
Since President Obama has taken office, total U.S. debt has increased
by over $600 billion. $17 billion is less than 3% of new debt created
during this administration’s first 105 days.
Agencies reported improper payment estimates of $72 billion for fiscal
year 2008 for a select group of programs. This represents about 4
percent of the $1.8 trillion of reported outlays for the related
programs.
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