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Currency Policy

Obama Freeze Forfeits America's Future

Steve Clemons | Posted 05.25.2011 | Politics
Steve Clemons

Obama's plan to unveil tonight a non-defense discretionary spending freeze for the next three years will essentially forfeit America's growth future to China. The President, one year into his job, and still dealing with the tail winds of the worst economic disaster in global markets and the U.S. economy since the Great Depression, is saying that he is going to freeze spending on virtually everything but the wars we have on hand. America needs to invest in itself.