The president announced today that he plans to cut $17 billion out of the budget. It's great to see the president living up to his promise of scouring the budget "line by line" to make cuts. It's a start, but it is only a tiny fraction of the $3.4 trillion budget. In fact, the cuts amount to one half of one percent of planned spending. The White House says they are not done yet though, so hopefully we will see some more cuts soon.