Here’s a letter to the Wall Street Journal:
After describing Pres. Obama’s proposed budget for fiscal 2012 as reflecting “dramatic cuts to federal spending,” you write “He ended up with a product that offers up more than $1 trillion in deficit reductions over a 10-year period – three-quarters coming from spending cuts and the balance from tax increases or the elimination of existing tax breaks” (“Obama Releases $3.73 Trillion Budget,” Feb. 14).
In other words, over the course of a decade, annual spending will be cut by an average of $75 billion.
Only by Washington standards does a two-percent spending cut qualify as “dramatic.”
Donald J. Boudreaux
One of my friends at Florida State, Lora Holcombe, alerted me to this telling graphic that exposes the size of the proposed FY 2012 spending cuts.