Don’t get too excited by the Washington Post’s claim that “House Democrats Slash More Than $100B From Obama’s Plan.”
While it is true that the budget blueprint for fiscal 2010 unveiled today by House budget leaders is a $100 billion smaller than the spending plan President Obama proposed last month, it doesn’t mean that the spending will actually go down.
Even the Post admits it: “Much of the difference comes from a decision by House leaders to jettison Obama’s plan to seek more cash for the Treasury Department’s financial-sector bailout, a decision that would reduce the projected deficit but not prevent the administration from requesting the money.”
Plus, let’s not forget that the federal government will still spend over $3.5 trillion. That’s 18 percent over the FY2008 level.