At his first Cabinet meeting last week, President Obama asked his cabinet officers to cut a combined total of $100 million in spending over the next 90 days. That is about 0.0025% of the $4 trillion that the federal government will spend this year.
As a symbolic gesture, the President’s request is appreciated. In reality, it compares to a household with an income of $50,000 cutting out $1.25 in spending, the price of a cup of coffee.
Halting and reversing the coming spending tsunami will require a much greater effort. To bring the administration closer to real restraint, last week I formally called on the President to take his cuts further and find and eliminate $100 million in waste from each of his 15 cabinet departments.
Then, how about a 1% decrease in each department? A penny on the dollar - aren't Americans doing more than that? Our government should too!
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