100 days in office and Today was the "First" cabinet meeting - cutting 100 Million after spending 787 billion

President Obama convened his Cabinet for the first time today and instructed department heads to trim their budgets by a combined $100 million over the next 90 days, cuts he said would help overcome a "confidence gap" among the American people about the use of their tax dollars.

Speaking to reporters after the meeting, Obama said the budget cuts would be separate from "programmatic cuts" that his economic team is making by going through the federal budget line by line.

"In the next few weeks, we expect to cut at least 100 current programs in the federal budget so that we can free up those dollars in order to put them to use for critical areas like health care, education, energy, our foreign policy apparatus," he said.