Various media reports: "Obama announced a two-year pay freeze for federal workers, saving up to $5 billion in two years, and $28 billion in five."
Very creative fuzzy math. Saving money by freezing (as in staying the same) as opposed to cutting. Hmmmm. This is like the shopaholic saying she saved $4,000 by not buying a $5,000 handbag and instead buying another for $1,000. Nice try federal number conjurers. lol.
These gov't workers should be thankful they aren't being rounded up for conference room meetings and being let go en masse as has already happened countless times in the private sector.
Our fiscal woes are in the trillions of dollars range, Uncle Sam should be cutting jobs through direct firings and attrition. The sums "saved" through this "freeze" are paltry.
$28 bln in 5 years?? The Fed is spending more than that a month through its money counterfeiting operations (POMO) to keep the bond and stock markets afloat.
The "bigwigs" just don't grasp the situation preferring to err on the side of kicking the can down the road. One of these days they will be forced into draconian cutting, but it will be too late. Perhaps that day is already here, yet they are still trying to resist with token fixes.