WASHINGTON -- The ranking member of the Senate Budget Committee said Thursday he's not impressed by President Obama's proposal to cut $17 billion out of the federal budget.Appearing on FOX News, Sen. Judd Gregg, R-N.H., said it's important to place the $17 billion figure in the context of the president's $3.4 trillion budget.
"It's as if you took a teaspoon of water out of the bathtub while you left the spicket on at full speed," he said.
"Basically right now we're running up a debt that is so high as a percentage of our gross national product that we couldn't even get into the European union," he said. "I mean we're headed to third-world country status if we keep this up."
Obama's $17 billion proposed cut represents a roster of 121 budget cuts and equals about one-half of 1 percent of the $3.4 trillion budget Congress has approved for next year.
Obama said the cuts appear small only in Washington.
"All across this country, Americans are responding to difficult economic times by tightening their belts and making tough decisions about where they need to spend and where they need to save," Obama said Thursday as he unveiled the details.
"The question the American people are asking is whether Washington is prepared to act with the same sense of responsibility," he said. "I believe we can and must do exactly that." - FOX News Story
When you increase your budget substantially then say you are cutting that by less than 1% are you saving anything? ABSOLUTELY NOT! This $17 Billion Cut is the same as a person making $40,000 a year cutting something that saves them $200 a year. That amounts to less than $17 a month in savings. Great Job Mr. Obama, your cooking now. I can see that deficit dropping. Come on and get serious. This is not CHANGE!!!! Maybe it is, just in the wrong direction.
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