Last week, millions of Americans watched the State of the Union. In outlining his strategy for “winning the future,” President Obama highlighted the need to create jobs by out-innovating, out-educating, and out-building the rest of the world. He also focused on the need to reduce the deficit. Among budget-cutting strategies he outlined was a proposal to freeze annual spending for the next five years, exempting education, defense, veterans affairs, homeland security, Medicare, and Social Security.
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