President Obama and Congress have agreed to cut $38 billion in
federal spending, right? If you go by so-called “budget authority,”
that may be true. But real spending cuts come when you actually cut
real spending, not “budget authority.” Outlays in fiscal year 2011
will likely be considerably higher than last year’s outlays. That
means the spending cuts advertised by President Obama and House
Speaker John Boehner are laughably fraudulent. Produced by Caleb O.
Brown and Austin Bragg.