Working late into the evening Friday, congressional and White House negotiators struck an agreement to pay for government operations through the end of September while trimming $38.5 billion in spending.
Here. Any cut is better than none, but have a look at these charts for a comparison of this cut with other measurements of spending. Puny. Note these charts were created before the deal but you can still get an idea of the magnitude. I wonder how the Tea Party folks will react.
This chart shows spending totals for years 2001, 2008, and 2011 and $61 billion in cuts. Since this deal is $38.5 billion the little white box is even smaller. The previous years show how much spending has increased by both Democrats and Republicans.
This chart show spending for 2011, the budget deficit, the interest paid on the debt, what Republicans originally wanted, and just a about where they agreed.