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Obama Wants to Cut $100 Million from $3.5 Trillion Budget

9:40 AM, Apr 20, 2009 • By JOHN MCCORMACK
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Greg Mankiw:

To put those numbers in perspective, imagine that the head of a household with annual spending of $100,000 called everyone in the family together to deal with a $34,000 budget shortfall. How much would he or she announce that spending had be cut? By $3 over the course of the year--approximately the cost of one latte at Starbucks. The other $33,997? We can put that on the family credit card and worry about it next year.