Monday, November 29, 2010

Obama calls for 2-year freeze on federal pay - Yahoo! News

Obama calls for 2-year freeze on federal pay - Yahoo! News: "WASHINGTON – President Barack Obama on Monday proposed a two-year freeze of the salaries of some 2 million federal workers, trying to seize the deficit-cutting initiative from Republicans with a sudden, dramatic stroke. Though signaling White House concern over record deficits, the freeze would make only a tiny dent in annual deficits or the nation's $14 trillion debt.
'Small businesses and families are tightening their belts,' Obama said in brief remarks at the White House. 'The government should, too.' The administration said the plan was designed to save more than $5 billion over the first two years.
The proposal, which must be approved by Congress, would not apply to the military, but it would affect all others on the Executive Branch payroll. It would not affect members of Congress or their staffs, defense contractors, postal workers or federal court judges and workers."

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