The proposed freeze of about 15 billion annually probably will be dwarfed by stuff they will call "emergency spending" such as a new Stimulus II or some similar scheme deemed not subject to freeze. A lot of "emergency spending" gets passed on top of the nominal budget in amounts dwarfing 15 billion per year. Such as the $800 billion Stimulus passed last year, or the trillion dollar expansion of federal reserve's balance sheet. And no one expects all of the proposed freeze to pass. Farm supports cut? Good luck. So this freeze strikes me as more symbolic than economic suicide.
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