expat_panama
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- Apr 12, 2011
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Read more at Press Conference by the President | The White HouseNow, what that would require would be some shared sacrifice and a balanced approach that says were going to make significant cuts in domestic spending. And I have already said I am willing to take down domestic spending to the lowest percentage of our overall economy since Dwight Eisenhower.
From Section 3 Federal Government Outlays by Function of the federal budget at Budget of the United States Government: Historical Tables Fiscal Year 2012 we have Eisenhower's domestic spending peaking at 5.0% gdp and now it's 16.6%. The current gdp is $14.9T so this means we cut domestic spending by $1.7T. Others may be interested in this take: American Thinker- Print Article
Problem solved. Have a nice day.