Chart of the Day: Cutting the Deficit

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Ah, the American public. God love ’em. The Economist asked if they’d rather tackle the federal deficit by cutting spending or raising taxes, and the runaway winner was cutting spending, by a margin of 62% to 5%. So what are we willing to cut? Answer: pretty much nothing.

As you can see, there wasn’t one single area that even a third of the country wanted to cut back on. Except — hold on there! Down in the middle of the table. There is one area that everyone’s willing to trim: foreign aid. Good ‘ol foreign aid. A category that, as Roger McShane dryly points out, “makes up less than 1% of America’s total spending.”

Beyond that, there were only four areas that even a quarter of the population was willing to cut: mass transit, agriculture, housing, and the environment. At a rough guess, these areas account for about 3% of the federal budget. You could slash their budgets by a third and still barely make a dent in federal spending.

I suppose one of these days everyone’s going to have to figure this out. Apparently no time soon, though.

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