When House Republicans released their campaign promises for the 2010 election, they wrote they would “roll back government spending to pre-stimulus, pre-bailout levels, saving us at least $100 billion in the first year alone and putting us on a path to balance the budget and pay down the debt”.
The clock is ticking and the House Republicans have taken a first big step toward achieving $100 billion in federal government spending cuts over the next year, and this achievement is a tribute to the new House Republicans who demanded that the Republican Appropriators go back to the drawing board and double the number of cuts first proposed.
The reason this is only a first step, and not the victory lap that some are proclaiming, is that as Human Events reports, the actual cuts to current spending in the Continuing Resolution (CR) are only $59 billion against the actual spending. While some are measuring the cuts against Obama’s proposed budget that never passed into law, this sleight of hand is not really necessary.
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