Obama unveils a three-year freeze on domestic spending not related to national security

11:12, January 28, 2010      

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U.S. President Barack Obama Wednesday said he will seek a three-year freeze on domestic spending that is not related to national security.

"Starting in 2011, we are prepared to freeze government spending for three years," said Obama in his first State of the Union address.

"Spending related to our national security, Medicare, Medicaid, and Social Security will not be affected," said the president. "But all other discretionary government programs will."

He promised his administration will continue to go through the budget line by line to eliminate programs that the country can't afford.

"Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don't. And if I have to enforce this discipline by veto, I will," said Obama.

He said the government has already identified 20 billion dollars in savings for next year.

"To help working families, we will extend our middle-class tax cuts," he said, but adding that at a time of record deficits, the government will not continue tax cuts for oil companies, investment fund managers, and those making over 250,000 dollars a year.

Source: Xinhua
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