Tuesday
Jan252011
Obama To Announce Five-Year Spending Freeze
Tuesday, January 25, 2011 at 2:27PMAccording to the National Journal, President Obama is expected to announce a five-year spending freeze during his State of the Union Address tonight.
The freeze will focus only on non-security, discretionary spending portions of the budget and will save an estimated $400 billion dollars over five years.
During a Monday morning briefing, White House press secretary Robert Gibbs was evasive about the details of the spending freeze, stating Obama’s address will focus mostly on “the economy…[and] challenges that we face in the short term, in terms of doing whatver we can to create jobs.”
The GOP also released a different proposal last week to cut $100 billion from non-defensive, discretionary spending.
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