As you might expect, the latest rounds of survey responses are not bullish on IT spending.  No surprise there and it's not like there has been wild spending going on anyway over the past few years.

CIO magazine published their most recent survey results here.  A couple things that caught my eye:

• 40% of CIOs plan to decrease their budget which is roughly double the response from earlier in the year.
• Over 70% have postponed or are planning on postponing discretionary IT projects.
• About half have renegotiated IT contracts and frozen hiring in the last 6 months.

Here's some additional perspective on the survey from InfoWorld.