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