The latest detail to trickle out about initiatives President Obama plans to serve up in Wednesday’s State of the Union address is one aimed at cutting the $1.4 trillion federal budget deficit. Obama will announce a 3-year freeze on $447 billion in spending, a measure that could save $250 billion in the next decade. About 17% of the budget will be affected, the Wall Street Journal reports, with much discretionary spending untouched, including defense and entitlement programs like Social Security.
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