Monday, April 20, 2009

If Obama balanced the family checkbook

Harvard Economics Professor Greg Mankiw further puts Obama's $100 million in cuts in federal spending in perspective by comparing it to a family budget:

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 to 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.

It's the tone, the president tells us, which someone suggested to me the tone sounded like "ding-a-ling."