Monday, February 14, 2005
Un-lovely quote of the day
Despite all the talk about "deep cuts" in the president's budget, such things are few and far between. Nearly 80 percent of the federal budget right now has been spoken for already. Medicare, Medicaid and Social Security gobble up more than half the free cash. Defense claims another large chunk, leaving Congress to tinker with the remaining 17 percent. After Congress has finished "deep cutting" the budget, expenditures will grow by at least 3.6 percent, and probably more than 5 percent. Only in Washington could someone spend an additional $125 billion a year and call it "deep cuts."
