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President Barack Obama promised to “go through the budget line-by-line” to cut out what he thought to be wasteful spending during his campaign and he did just that today.

The President unveiled his new budget that he said saves taxpayers $17 billion thanks to his terminations, reductions and savings plan. Some of the programs eliminated make one wonder how they escaped previous administrations. In all, the President cut or reduced 121 programs.

Despite the cuts and reductions, the President remained firm in his desire to put a “down payment” of health care reform. Even with the cuts, the President’s budget sits at an imposing $3.6 trillion for 2010. The White House on Monday will release a revised deficit projection to take into account technical and economic changes that will almost certainly widen its February forecasts of a record deficit of $1.8 trillion for fiscal 2009, and $1.2 trillion in the fiscal year that begins in October.

According to the Wall Street Journal, programs like Medicare, Medicaid and Social Security, along with this year’s Wall Street bailout costs and $148 billion for interest payments on the federal debt, will total $2.3 trillion in the current fiscal year, which is equivalent to 60 percent of the budget.

The full list and budget, broken down is much more simple numbers than the previous budget, is below.

Obama Terminations, Reductions and Savings for FY 2010 Budget - Free Legal Forms

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