Is Obama’s Underwhelming Spending Freeze A Fakeroo?

Alison Acosta Fraser / January 26, 2010

The President has the right idea with his proposal to freeze spending.  Unfortunately, after driving spending to a record $3.7 trillion—nearly 26% of GDP—last year with the accompanying $1.4 trillion deficit, the proposal is at best a bit….underwhelming.

According to the administration, only $447 billion in spending would be subject to the freeze with a total of $15 billion to be saved.   So this freeze would reduce the deficit by 1.1 percent or less than half a percent off of last year’s spending.  Details have yet to be announced, but those that have trickled out do make one wonder what spending forecasts the White House budgeters are reading.

The good:

Spending is out of control.  Under Obama, federal spending increased in every category—in many cases massive increases driving spending to its highest point since WWII. Spending needs to be frozen and reduced.  Really reduced.  If the President is serious about restoring confidence in his ability to control the excesses of Washington, he must go much further.

The bad:

First – this freeze would only apply to a sliver of total federal spending.  The administration has conjured up a new definition of spending called “non-security”, which would only affect about one-eighth of the budget. (more…)