President Barack Obama focused much of his attention on job creation for Americans during his State of the Union address Wednesday night. An issue that has dominated headlines for months, the president has now proposed $100 billion to add to this year’s deficit in order to help the cause. That would bring the nation’s deficit to $1.6 trillion for this fiscal year.
Obama’s new budget, which is expected to mirror many of the ideas in his first budget, predicts the national deficit will start to drop off in 2011 to $1.3 trillion. But, according to an Associated Press story, “The administration is proposing a three-year freeze on spending for a whole swath of domestic government agencies. Military, veterans, homeland security and big benefit programs such as Social Security and Medicare would not feel the pinch.”
The freeze is designed to save $250 billion over 10 years, and it would affect $447 billion in spending.
Do you agree with the amount of money President Obama is proposing to spend or should the freeze start immediately?