The White House continues to put out talking points around tonight’s Sate of the Union address.
Obama is said to propose a five-year spending freeze on non-defense discretionary spending. (Big deal. They are at record levels. Republicans want to roll back the baseline to 2008 levels.)
Obama will also back $100 bln in defense cuts over 5 years.
This is all well and good but it is entitlement spending that will swallow the Federal budget within a decade. Medicare and Social security need radical reform or all the trimming around the edges will be meaningless.
