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Sacrifices Already Made by Federal Employees to Reduce the Deficit or Pay for Other Programs

Sacrifices Already Made by Federal Employees to Reduce the Deficit or Pay for Other Programs. Sacrifices. 2 year pay freeze: saves $60 billion over 10 years

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Sacrifices Already Made by Federal Employees to Reduce the Deficit or Pay for Other Programs

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  1. Sacrifices Already Made by Federal Employees to Reduce the Deficit or Pay for Other Programs

  2. Sacrifices • 2 year pay freeze: saves $60 billion over 10 years • Unemployment Extension: forces federal employees hired after 2012 to pay higher retirement contributions. Saves $15 billion over 10 years

  3. Sacrifices • 2013 pay adjustment: Whether freeze again or 0.5% raise, savings will be $28-30 billion over 10 years • Total so far: More than $100 billion in savings over ten years

  4. More Sacrifices by Federal Employees That figure does not include the savings that would occur from massive downsizing in federal agencies, whether from sequestration or other budgetary cuts in agencies. That would be at least another $100 billion.

  5. Sacrifices by Federal Contractors Nothing yet.

  6. Sacrifices by Agribusiness Nothing yet.

  7. Sacrifices by Oil Companies Nothing yet.

  8. Sacrifices by Millionaires Nothing yet.

  9. Sacrifices by Billionaires Nothing yet.

  10. It’s not “shared sacrifice” if nobody else has to give anything up.

  11. President Obama and the Democratic-controlled Senate Budget Proposal

  12. Then there’s Paul Ryan’s budget.

  13. Paul Ryan’s Budget How it would affect current federal employees

  14. Paul Ryan’s Budget Freeze federal pay for 3 more years (for a total of 5 years with no raise)

  15. Paul Ryan’s Budget Increase current federal employees’ contributions to retirement by over 5%. (same as a 5% pay cut.)

  16. Paul Ryan’s Budget Reduce the size of the federal workforce by 10% -- or eliminate approximately 200,000 jobs.

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