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| Fed Pensions Targeted in Debt-Reduction Talks |
| 2011-05-15 |
| The generous pension system enjoyed by millions of federal workers from clerks to senators and judges has emerged as a key target in negotiations between Vice President Biden and congressional leaders looking to restrain the growing national debt. Republicans have proposed saving more than $120 billion over the next decade by requiring the civilian workforce to contribute more toward retirement — Participants in the Biden talks have temporarily set aside the most ideologically divisive issues, such as raising taxes and cutting entitlement benefits. But while the remaining targets are smaller, they are also guarded by a thicket of lobbyists and interest groups. Since May 5, negotiators have focused on a list of proposed reductions to “mandatory” programs, which are financed outside the annual appropriations process. The Republican-controlled House’s budget blueprint includes $715 billion in such savings through 2021; Obama has offered $290 billion. So let's 'compromise' at $250 billion. That's enough to make zero a hero. |
| Posted by:Bobby |
| #6 EXCELLENT angle to Obama's unsustainable spending. Blew his and his comrades retirement. Lets see how that plays out in DC. |
| Posted by: Black Bart Sperert2436 2011-05-15 22:33 |
| #5 The fewer government workers, the fewer pensions needed. How much of what the Federal and State governments is necessary ion our lives? I believe few non-government employed citizens would even notice if 50%, both civil and military service, were laid off. |
| Posted by: Zebulon Thranter9685 2011-05-15 19:24 |
| #4 Technically they're already cutting pensions as the last two years have seen no government rigged Cost of Living increase claiming there is no inflation. That's already saved the Treasury the equivalent of what they're looking for. They need to tie any such increase to an index of average salary/pay increases in the general public rather than inflation as we're all in the same boat, so to speak. Don't ask those generating the revenue to suffer a double impact of inflation and mandatory CoL increases to the pensioners. |
| Posted by: Procopius2k 2011-05-15 19:00 |
| #3 It would be sad if this were to badly hurt the many GS 5s, 7s, 9s. A lot of these folk work pretty hard. It would be better to stagger it so that up to $40k/yr there would be no increase in required contribution and above $80k, the full 5% would kick in. |
| Posted by: Lord Garth 2011-05-15 18:40 |
| #2 Paste link into your browser: www.opm.gov/lmr/html/unions.asp |
| Posted by: JohnQC 2011-05-15 10:37 |
| #1 Republicans have proposed saving more than $120 billion over the next decade by requiring the civilian workforce to contribute more toward retirement — a plan that would effectively impose an immediate 5 percent pay cut on more than 2 million federal employees. President Obama’s bipartisan fiscal commission has also endorsed the idea, calling the federal system “out of line” with the private sector. I don't see this happening in an election year with the Democrats at the helm. The federal unions are the ONE's biggest supporters. He ain't gonna bite the hands that feed him in an election year. Look at the opposition to Walker's attempts to fix the budget in Wisconsin. Just for example, a list of federal unions: Government Unions We've got the usual suspects such as SEIU and AFGE at work. |
| Posted by: JohnQC 2011-05-15 10:24 |