Obama to Propose Budget Freeze

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January 25, 2010

Obama to Propose Budget Freeze

President Obama "intends to propose a three-year freeze in spending that accounts for one-sixth of the federal budget -- a move meant to quell rising voter concern over the deficit but whose practical impact will be muted," the Wall Street Journal reports.

"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 to what would have been spent had this area been allowed to rise along with inflation."

Washington Post: "While the freeze would shave no more than $15 billion off next year's budget -- barely denting a deficit projected to exceed $1 trillion for the third year in a row -- White House officials described it as a critical part of a broader deficit-reduction campaign intended to restore confidence in Obama's ability to control the excesses of Washington."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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January 25, 2010