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Tuesday, January 25, 2011

SOTU: Obama to propose 5-year spending freeze

WASHINGTON — President Obama will call for a five year freeze on non-security discretionary spending in his State of the Union address Tuesday night, White House officials said, in a bid to help reduce the deficit and counter public perceptions that he spent too freely in his first two years in power.

Obama will also discuss plans to find budget cuts wherever he can, the White House said. The military, for example, isn't covered by the proposed freeze, yet Obama will advance a separate five-year plan, drawn up by Defense Secretary Robert Gates, to achieve $78 billion in savings, the White House said.

Obama is also expected to make job creation a main thrust of the speech, his second State of the Union address since taking office. (Continues here)

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