"President Obama Calls for Shared Sacrifice and a Balanced Approach to Reducing America’s Debt," from the Democratic National Committee website, July 15:
At a time when we cannot afford everything we need, [Obama] said it would be unfair to ask our most vulnerable to embrace austerity “if we’re not asking the most fortunate in our society to make some sacrifices as well.”
"White House: Budget cuts to president's office hurt debt efforts," The Hill, July 18:
The Obama administration made the argument in comments on H.R. 2434, the 2012 Financial Services and General Government Appropriations Act. That bill could be on the House floor as early as next week, and would decrease funding for the EOP [Executive office of the President] from $705 million to $640 million.
"The level of resources provided in the bill would significantly impact the EOP's role in assisting the president in carrying out his constitutional duties as head of the executive branch, including protecting national security interests, developing policies to address the challenges facing the nation, reducing the deficit and spending taxpayer dollars more cost-effectively, and managing the Federal agencies," the administration said in a statement of administration policy (SAP).
I'd say the President of the United States of America is pretty darn fortunate and cutting 10 percent of his own budget isn't too much of a sacrifice for him to make.