Monday, December 1, 2014

Finally, a CBO proposal you can support...

Don't look for the mainstream media to report this CBO deficit report that suggests downsizing the Federal Government...
Forcing agencies to make only one new hire for every three workers leaving and trimming the federal workforce by 10 percent is just one of the new cost- cutting suggestions from the Congressional Budget Office.
In its latest report, CBO has outlined a series of deficit reducing changes for federal employees that could save $100 billion over the next decade.
Retirement benefits for federal employees are also on the table. The CBO report suggests an alternative pension benefit calculation for both civilian and military retirees.
Under the current system, a civilian retiree's annuity is based on the average of the three highest consecutive years of earnings, while the military considers a retiree's annuity based on the average of his or her 36 months of highest earnings.
If CBO's proposal was implemented, civilian retirement would be based on a five- year average instead, and military retirees would have their annuities based on a 60-month highest earning average. The change, if carried out, would have a 10- year savings of $3.1 billion, according to the report.

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