$1.4 Million Goes a Small Way

Written by Tim Mak on Saturday October 10, 2009

CNN reports that President Obama is going to donate his Nobel Prize money to charity. If President Obama is sincere about helping charities though, he can do much more.

CNN is now reporting that President Obama is going to be donating his $1.4 million Nobel Prize money to charity.

While President Obama should be lauded for giving to those in need, certain organizations need more money than others. For example, the Congressional Budget Office revealed yesterday that this one institution named "Congress" has a budget shortfall that is expected to hit $1.4 trillion dollars.

Perhaps President Obama could put his $1.4 million, no small sum, into paying off .00010% of the federal deficit?

...or maybe he could see that it be put to paying off 0.00017% of the 2009 stimulus package?

...or possibly he could have it cover a 0.00018% share of the Baucus healthcare bill?

The fact of the matter is that the $1.4 trillion dollar deficit, and the future taxes necessary to pay it off, will harm charities far more than a $1.4 million dollar donation anywhere. If President Obama is serious about helping charities, he can do much more than donating his prize money to them.

Indeed, he could compliment his charitable giving by cutting spending and easing America’s tax burden, thus allowing the charitable and voluntary sector flourish on their own.

Who knows? An effort like this, which would improve the lives of countless millions, might actually be deserving of a Nobel Peace Prize.

Category: News