Obama Calls For A Five Year Spending Freeze

While calling for new spending. Insincerity? Not even the normally worshipful Associated Press is buying this crap.

Saying "this is our generation's Sputnik moment," Obama said his forthcoming budget blueprint will include funding for biomedical research, information technology and clean energy -- all part of his push for "innovation" as a way to jump-start job creation.

To pay for it, Obama called on Congress to end tax subsidies for the oil and gas industry -- a move that would free up an estimated $4 billion. He called on the two parties to support an overhaul of the federal tax code as it applies to business.

"Get rid of the loopholes," Obama said. "Level the playing field. And use the savings to lower the corporate tax rate for the first time in 25 years -- without adding to our deficit."

Read more at the Washington Examiner: http://washingtonexaminer.com/politics/white-house/2011/01/obama-calls-5-year-spending-freeze#ixzz1C9PzagbI