Although the recession is technically over, times are still tough for American families. Millions of Americans are dealing with near double digit unemployment rates, unemployment benefits for some may be coming to an end soon, and the 2011 unemployment forecast is far from bright. Things aren’t rosy for governments, either, and so deficit reduction measures are being considered.

During a Monday speech, President Obama laid out his plans to reduce the deficit including the recommendations for a two-year pay freeze for civilian federal employees and a three-year freeze on all non-security discretionary spending. These two recommendations could save billions of dollars.

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