Greg Mankiw and my colleague, Francis Cianfrocca, call out the Obama Administration for the spectacularly wimpy decision to have the President direct Cabinet Secretaries to cut a paltry $100 million from their budgets. I don’t know whom the Administration thought it was kidding, but no one actually believes that this effort is in any way, shape, or form, fiscally serious.
For extra laughs, be sure to check this out. Whoever claimed that it would be a good idea for Robert Gibbs to defend the Administration’s pretensions to fiscal discipline must have had it in for Gibbs. The Press Secretary had better watch his back.
At the end of the day, there should be outrage that the collective intelligence of the country is being insulted so. If the Administration really believes that we ought to be impressed by this, it does not understand the body politic. Of course, I suppose it is possible that the Administration is genuinely impressed by this effort. In which case, we ought to be worried.