Budget Bluster

With cuts to Social Security and Medicare (at 23% and 14% of the budget) now apparently off the table, that leaves just 63% of the budget. But not really. Net interest is 8% and defense is 14%. That leaves just 41%. Other mandatory programs are 14% of spending, so all that’s left is 27% of the budget to absorb 100% of the cuts, and they will have to be extreme.