|Deficit and debt increases 2001–2009. Gross debt has increased over $500 billion each year since FY2003. (Photo credit: Wikipedia)|
If I said I bought something for $1,000 and it actually cost $1001, I doubt if you would accuse me of lying -- 1/1000th is a rounding error.
According to the latest by Mark Steyn the US has succeeded in identifying ONE BILLION DOLLARS worth of budget cuts.
Sounds impressive until Steyn points out that the US borrows 188 million dollars each and every week, month in, month out. Did I say month? I meant week. 188 million dollars each and every week, week in, week out. Did I say week? I meant hour. Hour! 188 million dollars per hour each and every day each and every week each and every month each and every... you get the idea. So, out of an annual budget, the US has cut about 6 hours worth of borrowing.
Think about your annual budget. Cutting out 5 hours worth of living expenses wouldn't even show up, would it? I mean it's 1/4 of a day. If it were about 1/3 of a day it would represent about 1,000th of your annual budget (365*3).
It's a rounding error.
And that's the way the Ball bounces.