Eying Deficit, Obama Plans $447B Freeze

17% of US budget affected, not including defense, entitlements
By Will McCahill,  Newser Staff
Posted Jan 25, 2010 8:09 PM CST
Eying Deficit, Obama Plans $447B Freeze
Congressional Republicans discuss the federal deficit.   (AP Photo)

The latest detail to trickle out about initiatives President Obama plans to serve up in Wednesday’s State of the Union address is one aimed at cutting the $1.4 trillion federal budget deficit. Obama will announce a 3-year freeze on $447 billion in spending, a measure that could save $250 billion in the next decade. About 17% of the budget will be affected, the Wall Street Journal reports, with much discretionary spending untouched, including defense and entitlement programs like Social Security.
(More President Obama stories.)

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