Again, showing that neo-cons have no economic knowledge, Obama has announced that to try to afford these giant bailouts, he will be instituting a series of spending cuts across the board.
Want something that doesn’t really need funding in the USA?
The White House Office of Faith-Based and Community Initiatives eats a whopping $2 billion for prostylization of the disadvantaged.
It’s not on the order of the $1 trillion dollar deficit he’s faced with, but every little bit counts.
Actually, my serious hope is that research, education, and health care don’t feel any pressure in the USA (except perhaps the school voucher scam). It’s not easy to inherit the worst economic situation the US has seen in decades, but hopefully the right action is taken.