Barack Obama, Spending Cuts | featured news

President Barack Obama will announce a two-year pay freeze for federal employees Monday, a move White House officials say is the first of many difficult decisions that must be made to reduce the nation's mounting deficit.

The party's manifesto calls for tax and spending cuts, a repeal of Obama's healthcare law and strict adherence to the Constitution.Drawing on ideas favored by conservatives and given new voice by "tea party" activists, Republicans will unveil Thursday a governing manifesto that calls for dramatic cuts in government spending, repeal of the new healthcare law and a strict constitutional test for every proposed law, according to a draft of the plan.

Responding to a challenge from President Obama, Republican leaders in the House of Representatives are offering up a roster of more than $23 billion in spending cuts over the next five years.

President Obama will propose $17 billion in spending cuts today, less than half of 1% of his budget, including cuts in weapons ...