Allison Kilkenney - Someone is going to have to explain the logic of this to me.
Obama is going to ask Congress to freeze spending for some domestic programs for three years beginning in 2011, but don’t worry — not the Pentagon allowance. It’ll just be a small part of the budget ($250 billion over ten years) for some tiny, domestic programs. You won’t even miss it. Everyone, calm down, the wars won’t be affected by the freeze.
This single act marks Obama’s surrender to the deficit hawks. It doesn’t seem to matter that Nobel Prize-winning economists like Krugs and Stiglitz have been screaming that the only way out of a recession is stimulus. Read more.