While I've become more of a moderate, I think it's funny that the "uniter" Big-O blamed the Republicans right away in his speech. I don't care which side the politician is on, they vote for their own party.
The President will receive $450,000 per for life. House/Senate members will receive $174,000 per year for life. Speaker of the House will receive $223,500 per year for life. Majority/Minority Leaders will receive $193,400 per year for life. Those politicians only have to serve one term to get that pension, for life. Congress receives automatic pay raises each year, and no one has to vote on it.
If you want to save money and cut spending, start there. Do not take away military pensions (this is a proposal, no matter if you have one day or 19 years in service). It's a slap in the face to all voters that our elected leaders (all the way to the top) faild us.