No less than four times during the presidential debates did President Obama actively campaign against an across the board spending freeze.
In his budget for Fiscal Year 2011, to be presented on Monday, February 1, President Obama will propose a three-year hard freeze on non-security discretionary spending, to last from 2011 through 2013.
This will save $250 billion over the next decade, senior administration officials told reporters. (The debt during that same period is projected to grow by $9 trillion.) By 2015, non-security discretionary spending will be at its lowest level as a component of the nation’s Gross Domestic Product in 50 years.
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