The Real News discusses the Obama budget, in which spending will be held flat for 5 years. Considering the growth of the American population, this could be a real issue. In addition, there is not nearly enough funding for investment in clean energy and infrastructure to account for his goals listed in the State of the Union Address. There is some speculation that he has given up far too much ground to the Republicans on the politics of the spending issue, especially considering that the Republicans created the structural deficits and that the real economic problems that we now face were due to the banking crisis.
Austerity is the word