Monday, August 13, 2012

Romney-Ryan would target federal workers

CNN Money ^ | August 13, 2012 | By Jennifer Liberto (Obama MediaPAC)

(CNNMoney) -- Federal workers' jobs will be under fire if Mitt Romney and Paul Ryan win November's election.

Both Romney and Ryan have made it clear that they think federal workers are one reason the nation's deficit is too high, and have talked about shrinking payrolls and cutting benefits.

Unions, in particular, say they're concerned about Ryan, saying he has a record of "undermining" federal workers.

Federal workers' pay has been frozen at 2010 levels, a move President Obama supported to save $60 billion from deficits over ten years. If Obama wins in November, the pay freeze is expected to ease.
In a Romney administration, three different cuts could be pushed targeting federal workers or their benefits, as suggested by the Ryan budget plan.
-- Federal pay freeze extended five years.
-- Cuts to 10% of the federal work force through attrition and a hiring freeze enacted, limiting agencies to hiring only one new employee for every three federal workers who retire.
-- Requiring federal workers to pay for as much as half of their defined retirement benefit they receive at retirement.
(Excerpt) Read more at money.cnn.com ...

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