http://openleft.com/diary/16026/as-obama-administration-focuses-on-deficits-instead-of-jobs-democratic-majority-circles-the-drainUnfortunately, it looks like the Obama administration has had enough of dealing with a Democratic-controlled House of Representatives. In 2010, the administration is looking to institute a job-slashing freeze--or even a significant reduction--of government spending. The plan is already in the works, as every government agency has been ordered to prepare for either a spending freeze, or for 5% spending cuts:
The Obama administration has alerted domestic agencies to plan for a freeze or even a 5 percent cut in their budgets, part of an election-year push to rein in record deficits that threaten the economy and Democrats' political prospects next fall.
How is freezing, or cutting, federal spending going to create jobs in 2010? The answer is that it won't. Such a move is more likely to cost a lot of jobs. The Obama administration is also looking to use the remaining $210 billion in Wall Street bailout money to pay down the deficit, rather than to finance a new jobs bill. The bottom line is that they are focusing on deficit reduction, not on creating new jobs.