O's Drop in the Bucket: White House lists some proposed cuts in 2011 budget
WASHINGTON
Sat Jan 30, 2010 5:27pm EST
reuters.com
WASHINGTON (Reuters) - President Barack Obama will propose cutting or changing some 120 items in his budget for fiscal 2011 that will help save $20 billion this year, the White House said on Saturday
Obama, who on Monday presents his budget proposals for the fiscal year starting October 1, has promised to tackle record deficits by initiating a spending freeze on some domestic programs and eliminating programs that are redundant.
The White House gave a preview of some of those cuts in a statement published on its blog on Saturday.
One of the proposals would eliminate the "Advanced Earned Income Tax Credit," which allows eligible taxpayers with children to get a portion of the a tax credit paid out in their paychecks throughout the year.
The White House said only 514,000 people -- 3 percent of those eligible -- claimed the credit and the error rate for the program was high, with 80 percent of recipients not complying with one or more of the program's requirements.
"This ineffective and prone-to-error program should be eliminated," White House Communications Director Dan Pfeiffer said in the statement.
Other changes would include consolidating 38 programs at the Department of Education into 11 to clamp down on inefficiencies and demand greater accountability from states and school districts on grant programs.
(Reporting by Jeff Mason; editing by Mohammad Zargham)
[KLP note: At least some of the people know that O is playing games.....]
COMMENTS
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Jan 30, 2010
Shutting down Advanced EITC would be a great idea.
Even better would be to shut down EITC altogether. The EITC program is full of fraud – estimates run between 20% and 40%.
Jan 30, 2010
That’s like me knocking 50 cents off my annual budget.
Jan 30, 2010
It is a start. Only $1,280,000,000,000.00 left to cut to balance the 2011 budget.
erv Report As Abusive
Jan 30, 2010
They are cutting out their Latte’s!
Jan 30, 2010
That’s nice but why doesn’t Obama cancel the remaining 500 BILLION from the so-called “Stimlus” package that hasn’t been spent yet? End TARP and give the American people some ACTUAL across-the-board tax cuts. That will increase tax revenue and encourage people to invest and hire again. $20 billion in cuts is just a start. Obama can cut a LOT MORE than that if actually serious about cutting spending.
Jan 30, 2010
What ever happened to the $500 billion in waste and fraud that was going to pay for a large part of the healthcare boondogle? Why not save that? LOL
Jan 30, 2010
Obummer drops a few coins on the sidewalk and calls it cuts.
Jan 30, 2010
Just cut everything that is not necessary, the nice to haves: public broadcasting system (PBS), arts funding, foreign language signs, etc.
Jan 30, 2010
The cuts will be aimed at the opposite party or opposion states. |
