Bishop to Boycott Obama Commencement Speech

    South Bend is heating up over the controversy surrounding Obama and the local bishop...Read the post

    2009 College Grads: We're the Lucky Ones

    Why there is hope for the graduating Class of 2009, and how they can find work in a recession...Read the post

    Beer in Vending Machines -- What Drinking Age?

    U.S. policies on drinking age seem restrictive when examining the rest of the world...Read the post

    How The Press Can Remain Relevant

    Is it any surprise that Obama has employed a strategy to cordon journalists that is similar to previous administrations?...Read the post

    Be Afraid, Cheney Warns. Be Very Afraid.

    Just when you thought the Bush-era warnings of Armageddon around the corner were over, Cheney strikes again...Read the post

    Obama: You Wouldn't Like Me When I'm Angry...

    Obama threw down his stick, spat on the floor and growled in the face of cameras -- metaphorically... Read the post

    Obama to GOP: 'I Won, I'm The President'

    "You can't just listen to Rush Limbaugh and get things done," Obama told GOP leaders...Read the post

    Palin Seeks $11M Book Deal, but Can She Read?

    One can only imagine what Republican rising star Sarah Palin could possibly write about in her memoirs...Read the post

Rss Feed

money & financepolitics

U.S. Cabinet to Eliminate Dozens of Government Programs

Adam Kirchner

Posted: Apr 19th 2009 1:53PM

Filed under: Politics, Money, Towson University

President Barack Obama announced an initiative to reduce "wasteful" government spending in his weekly address on Saturday.

"Billions are squandered on programs that have outlived their usefulness, or exist solely because of the power of a lobbyist or interest group," Obama said.

An agenda topic at Monday's first full Cabinet meeting will be budget cut proposals from each federal department and agency.

In his Saturday address, Obama named two specific budget cuts recently made: firstly, the Department of Homeland Security is no longer spending $3 million on logo updates. The DHS was created less than 7 years ago and the reason that the logo needed a $3 million update so soon remains to be seen.

The second budget cut is the saving of an estimated "hundreds of billions of dollars in wasteful spending and cost overruns" in the Department of Defense. According to the DoD's FY 2008 Agency Financial Report, the Department's available resources were $1.1 trillion, which primarily consisted of $736.4 billion in appropriations. The net cost of operations was $676 billion. A possible budget cut is no longer appropriating $736.4 billion to tally $1.1 trillion in resources when net operating costs are only $676 billion.

Obama pledged to announce "the elimination of dozens of government programs shown to be wasteful or ineffective. In this effort, there will be no sacred cows, and no pet projects."

Recent Comments »

Page 1/2

Post Your Comments Below

| 1 | 2 | Most Recent | Next 20 Comments

| 1 | 2 | Most Recent | Next 20 Comments

Join The Discussion

New Users

Current Users

Featured Galleries »

  • Living the Vice Presidential Life
  • Watching the First Debate At UPenn
  • Obama's Number Two
  • Historical Olympic Highlights
  • Pictures from Another World
View All »
Comming Soon
Also on AOL

Get the latest national news, cultural trends, political analysis and more.

AOL news