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
Congressional Republicans discuss the federal deficit.   (AP Photo)

(Newser) – 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.

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