In tomorrow night’s State of the Union President Obama will call for an across the board spending freeze on non-discretionary spending. FoxNews:
President Obama, after spending hundreds of billions his first year, now is seeking a partial three-year federal spending freeze that would reduce budgets by less than 1 percent.
The drop-in-the-bucket nature of the president’s proposal was underscored Tuesday by a Congressional Budget Office estimate projecting the 2010 federal deficit to hit $1.35 trillion — Obama’s spending freeze would be expected to save up to $15 billion the first year.
During the campaign, candidate Obama opposed such a proposal. Real Clear Politics has the video. This is one campaign promise I’d be delighted for him to break.
This spending freeze may be just a drop in the bucket, but the President deserves credit for finally being on the right side of that drop. Even if his motives are purely political, following through on a spending freeze would still be in the best interests of our country.
Controlling spending is now even more important than before. The Congressional Budget Office has reported that the so-called “stimulus” bill costs $75,000,000,000.00 more than originally projected. This should come as a shock to nobody. Original CBO projections should be viewed as a on-time, on-budget, best case scenario minimum cost for any government project. They represent not a ceiling, nor an average, but a floor for the true cost of government.