UPDATE: NEW HEADLINE... Republicans Looking to Increase Federal Budget Deficit by $3.3 Billion
The U.S. national debt is well over $14,000,000,000,000. The madcap officeholders in Washington have responded the problem with a new budget deal that cuts this fiscal year’s deficit by just $352 MILLION. That's MILLION with an "M", not BILLION with a "B".
Unfortunately, this is not a joke. Even the leftists at the Washington Post are aghast:
A new budget estimate released Wednesday shows that the spending bill negotiated between President Barack Obama and House Speaker John Boehner would produce less than 1 percent of the $38 billion in promised savings by the end of this budget year.The Congressional Budget Office estimate shows that compared with current spending rates the spending bill due for a House vote Thursday would cut federal outlays from non-war accounts by just $352 million through Sept. 30...
$352 million dollars is about $1.14 per American.
Let me remind the folks at the Washington Post that Boehner originally promised $100 BILLION in cuts to out-of-control federal spending. Even that would have been a very modest down payment on our superastronomical debt. But now were down to 0.35% of the original promise (with cuts that amount to 0.0025% of the national debt).
Update: “total federal outlays will still rise by approximately $177 billion.” Yes, that says “rise” not “decrease.”
Update II: NRO: Strike One For John Boehner
Update III: My apologies. I was terribly wrong. Obama-Boehner Budget Adds $3.3 Billion to Deficit Rather than Saving $38 Billion