So we will see how much Obama cuts from the budget

The WSJ has this.

He said that on Monday, at his first, full cabinet meeting, he will ask all agency heads for specific budget cut proposals. He cited efforts under way at the Pentagon to reform contracting procedures and kill hundreds of billions of dollars in "wasteful spending and cost overruns." He also pointed to a decision to end a Department of Homeland Security consulting contract to create new seals and logos that has cost $3 million since 2003. . . . .

Obama's promise time after time during the debates:

“But there is no doubt that we've been living beyond our means and we're going to have to make some adjustments. Now, what I've done throughout this campaign is to propose a net spending cut.”

The WSJ article noted the defense department cuts even though that was one the one area where he promised an increase in spending.