President Obama is expected to announce in tomorrow night’s State of the Union Address that he will propose in his fiscal year 2011 budget freezing all non-security federal discretionary spending for three years in an effort to reduce the $1.4 trillion deficit.
While details have not been released by the White House, the Wall Street Journal is reporting that all discretionary spending not related to the military, veterans, homeland security and international affairs will be subject to the freeze. The limits will not be imposed across the board, however. Some areas would see cuts while others, including education and job creation programs, may see increases. Such a freeze is estimated to save $250 billion over ten years.
The specific details of the proposed freeze will be officially unveiled on Monday, February 1 when the President publicly releases his fiscal year 2011 budget.
Tags: budget, funding, president, Public Policy