News Update: Obama's Budget Freeze Outlined

President Obama is proposing a 3 year freeze on spending for many domestic programs to lower the deficit. The cuts would reduce the deficit by 10 to 15 billion dollars in 2011, and amount to 250 billion in savings over the next 10 years.
The president will unveil the plan tomorrow in his State of the Union address. The freeze would effect programs and agencies such as air traffic control, farm subsidies, education, nutrition and national parks. Security related budgets would be exempt - such as the Pentagon, homeland security, the Veterans Administration; as well as Medicare, Medicaid and social security. Although of course the pending health care overhaul could have unique effects on government healthcare programs. The President and Vice President are also outlining a number of proposals to go into the 2011 budget that will give the middle class a boost. The proposals will deal with child care, student loans and retirement savings.

Category:

News & Politics

Tags:

• Obama
• Budget
• Freeze
• Medicare
• Medicaid
• Social
• Security
• State
• of
• the
• Union
• Pentagon
• Homeland
• Veterans
• Administration