The President said he’s “cutting” $17 billion from the budget through Federal program terminations and reductions.

Except he’s not reducing spending, he’s redirecting taxpayer wealth. From The Foundry,

Nearly every dollar “saved” would go into new spending. The President already proposed a specific discretionary spending level, and Congress has already approved a budget that would spend $1,086 billion on regular discretionary spending in FY 2010. The discretionary savings proposals affect only the composition of such spending. Thus, even if the entire $12.5 billion in discretionary spending cuts are enacted, the savings would automatically be plowed into other programs to maintain discretionary spending at that level. So this exercise is about reorganizing – not reducing – government.

Even on the entitlement side, $3.6 billion of the $4.6 billion in 2010 savings comes from phasing out the subsidized student loan program – with all savings redirected into expanded Pell Grants. There is virtually no deficit reduction from these reforms.

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Graphic via The Foundry

Those programs he’s “cutting” funding for?  Some of them got tons of money through the stimulus bill:

Federal programs deemed ineffective by President Obama and targeted for elimination in his proposed budget include five that stand to get about $500 million in economic stimulus funds, documents show.

In his $3.6 trillion budget released Thursday, Obama identified 121 programs that he wants to eliminate or reduce to save $17 billion. That includes eliminating an Army Corps of Engineers program that funds wastewater treatment projects and a U.S. Department of Agriculture flood control program — two programs that less than three months ago received a combined $490 million in the $787 billion economic stimulus bill.

Guess the economy will survive without them after all.

And one program’s funds on the chopping block, to the tune of $19 million, was part of the President’s omnibus spending bill:

Says the White House:  “The programs in Terminations, Reductions, and Savings are ones that do not accomplish the goals set for them, do not do so efficiently, or do a job already done by another initiative. They include: … Los Alamos Neutron Science Center refurbishment ($19 million). The linear accelerator housed here was built 30 years ago and no longer plays a critical role in weapons research.”

The president actually signed a bill giving $19 million to that very same program when he, behind closed doors, signed the omnibus spending bill in March that contained roughly $8 billion in earmarks, as Sen. Jeff Bingamin, D-NM, heralded in a press release.

The Keystone Kops are running our country.  Want more evidence?  Government Motors will be outsourcing jobs big-time after it restructures.

According to an outline the company has been sharing privately with Washington legislators, the number of cars that GM sells in the United States and builds in Mexico, China and South Korea will roughly double.

Will the President count those jobs as created or saved?  Inquiring minds want to know.

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