Obama to Propose Spending FreezeAs part of his State of the Union address Wednesday, the president is expected to call for a three-year freeze on non-military, non-entitlement discretionary spending that amounts to a small fraction of the budget. It's a stunt, for the most part, aimed at soothing budget-conscious independents. (continued)
As part of his State of the Union address Wednesday, the president is expected to call for a three-year freeze on non-military, non-entitlement discretionary spending that amounts to a small fraction of the budget. It’s a stunt, for the most part, aimed at soothing budget-conscious independents.
That doesn’t mean it won’t hurt. Freeze is actually the wrong word. Because Barack Obama’s plan, as it’s being reported, doesn’t allow for inflation, it’s actually more of a spending cut.
So how is the White House going to pay for this middle class mini-stimulus package that was announced Monday? By sneaking it into the current fiscal year, before the budget freeze kicks off in October.
Here’s why this is just silly. The United States spends about a trillion dollars a year on the military, including the wars and homeland security. The White House’s best estimate of savings from its spending freeze/cut (and again, this is according to media reports) is $250 billion over 10 years. Whoop-dee-doo. — PZS
Wait, before you go…
New York Times:
The freeze would cover the agencies and programs for which Congress allocates specific budgets each year, from air traffic control and farm subsidies to education, nutrition and national parks.
But it would exempt the Pentagon, foreign aid, Veterans Administration and homeland security budgets, as well as the entitlement programs that make up the biggest and fastest-growing part of the federal budget: Medicare, Medicaid and Social Security.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.Support Truthdig
There are currently no responses to this article.
Be the first to respond.