Barack Obama: President Delivers Debt Reduction Plan to Joint Congressional Deficit Committee

As I suspected, in part, President Barack Obama delivered his deficit reduction plan to the Joint Committee on Deficit Reduction.

I have yet to read all of the contents, but one thing I did notice is that the proposal for federal employees to “contribute” more to their pensions is really a giveback of salary (because of the operation of the Civil Service Retirement and Disability Fund). I guess “Third Way” got its way in part (1.2% rather than 5.8%). But knowing how this town works another time that the media whips up the public about federal employees, watch for the so-called contribution to increase. [With all of the givebacks and pay freezes, federal salaries may never keep up with the cost of living in this expensive country.]

Will the plan get a majority vote and get a expedited vote in Congress? I do not know. Maybe some of the very bitter provisions can be tolerated if  (very big “if”) every income class participates in addressing the lack of revenue problem.

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