Visualizing Obama's $100 Million Budget Cut

[coadie]

For most of the Bush years, the federal budget for education was in the 50 billions.
In 2009 they jacked it up by 100 billion to 150 billion plus. Now if we go back to the old pattern, the Teacher's unions will howl about nasty and severe cuts. It takes 2 seconds for people to get comfy with a one time gift being a long term expectation.

This is a phenomena first named as reverse innelasticity of demand by Thorstan Veblin.