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Obama Announces Two-year Pay Freeze

By: Associated Press
By: Associated Press
President Barack Obama says getting the federal deficit under control will require "broad sacrifice," and he

President Obama calls for a two-year freeze on civilian pay for federal employees from the White House, November 29, 2010. (Credit: CBS)

WASHINGTON (AP) - President Barack Obama says getting the federal deficit under control will require "broad sacrifice," and he's starting with federal workers.

Obama announced a two-year pay freeze for 2 million federal employees today. It doesn't affect military personnel.

It's expected to save more than $5 billion. And by delaying wage increases, the White House says the freeze would actually save $28 billion over the next five years.

The chairmen of Obama's bipartisan deficit commission proposed a three-year freeze in pay for most federal employees as part of its plan to reduce the nation's growing deficit.

The commission's final report is due to be released later this week.


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