Republicans budget cuts underwhelm as the total budget cuts they propose only reaches $32 BB

The Republicans in power have presented budget cuts amounting to a total of $32 BB, which is a drop in the bucket considering the $1.5 TT deficit this year.  It is also less one third of the $100 BB that they proposed in November.  This would only represent a 2.1% decrease in spending.  It's something but doesn't go nearly far enough.  Via NYT:
After clamoring loudly about their plans to curtail federal spending, House Republicans announced Thursday that they would cut $32 billion for the remainder of the fiscal year — a minuscule amount compared with a projected annual deficit of nearly $1.5 trillion.

The Republican proposal is effectively $58 billion less than the domestic and foreign aid programs in President Obama’s budget request for 2011 — far short of the $100 billion in cuts that Representative John A. Boehner promised before the November elections that catapulted Republicans into the House majority and made him the speaker.


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