Budget Freeze Is Proposed
Budget Freeze Is Proposed
Budget Freeze Is Proposed
President Barack Obama intends to propose a three-year freeze Construction Machinery in spending that accounts for one-sixth of the federal budget—a move meant to quell rising concern over the deficit but whose practical impact will be muted.
To attack the $1.4 trillion deficit, the White House will propose limits on discretionary spending unrelated to the military, veterans, homeland security and international affairs, according to senior administration officials. Also untouched are big entitlement programs such as Social Security and Medicare.
Watch footage of President Barack Obama addressing a meeting of the Middle-Class Task Force, headed by Vice President Joe Biden. Video courtesy of Fox Business Network.
The freeze would affect $447 billion in spending, or 17% of the total federal budget, and would likely be overtaken by growth in the untouched areas of discretionary spending. It's designed to save $250 billion over the coming decade, compared with what would have been spent had this area been allowed to rise along with inflation.
The administration officials said the cap won't be imposed Construction Machinery across the board. Some areas would see cuts while others, including education and investments related to job creation, would realize increases.
Among the areas that may be potentially subject to cuts: The departments of Housing and Urban Development, Justice, Energy, Transportation, Agriculture, and Health and Human Services.
President Barack Obama and Vice President Joe Biden at a meeting of the Middle Class Task Force on Monday.
"We're not here to tell you we've solved the deficit, but you have to take steps to put spending under control," a senior administration official said.
The spending freeze, which is expected to be included in Wednesday's State Construction Machinery of the Union address and the president's Feb. 1 budget proposal, is one of a series of small-scale initiatives the White House is unrolling as the president adjusts to a more hostile political terrain in his second year. On Monday,Mold, the president unveiled a set of proposals aimed at making ***** care, college and elder care more affordable.
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