And for the vast majority of companies, the cuts will not provide enough savings to justify much hiring.
The cuts come after a group of investors provided the company with a much needed $27.5 million cash infusion last week.
Democratic leaders have countered that the cut would provide a tax break for the well-to-do and be a serious drain on Federal revenues.
We don't know if the proposed cuts in the growth of Medicare and Medicaid would provide enough money to help finance the President's plan.
A cut, he noted, would provide a bit of insurance against a deeper economic slowdown.
Further cuts in interest rates will only provide limited relief.
Such cuts would provide the funds to restore some valuable programs, including those supporting economic growth and job creation.
But those cuts would provide only about half the $1.48 billion the Administration has added to its initial anti-drug program since last February.
Nevertheless, the cuts provide a wealth of political capital for Mrs. Whitman.
Those cuts provided significant tax savings to the wealthy while offering only minimal benefits to taxpayers at lower-income levels.