Thursday, April 14, 2011

Sound and fury signifying very close to nothing

I get a kick from Cafe Hayek (and EconTalk) every time I look at it. Today's (well, yesterday's) gem points out just how trivial are the allegedly drastic spending cuts the major parties have cooked up.

As one of the comments points out: "While I’m making silly back-of-the-envelope calculations: the US median income was $44,389 in 2010…so the federal government cutting spending by $352 million is the equivalent to the median income earner cutting his annual spending by $4.09. While he has a credit card balance of $159,149, to which he plans to add $18,597 this year."

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