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Thu Dec 15, 2011, 12:41 PM

House Armed Services Chairman Seeks to Avert $55 Billion in Cuts [View all]

By Roxana Tiron and Kathleen Hunter - Dec 15, 2011 12:01 AM ET

The chairman of the U.S. House Armed Services Committee is proposing to avoid about $55 billion of defense spending cuts in 2013 by reducing the federal workforce.

Howard P. “Buck” McKeon, a California Republican, introduced legislation yesterday to trim government employment by 10 percent over 10 years by hiring one federal employee for every three who retire.

The Defense Department faces cuts of as much as $1 trillion over the next decade after lawmakers on a bipartisan deficit- reduction panel in November said they were deadlocked on how to reduce the federal deficit by at least $1.2 trillion.

The Pentagon already is cutting about $490 billion from its budget over the next 10 years under the budget control act President Barack Obama signed into law Aug. 2. The same measure created the supercommittee.

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http://www.bloomberg.com/news/2011-12-15/house-armed-services-chairman-seeks-to-avert-55-billion-in-cuts.html

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Reply House Armed Services Chairman Seeks to Avert $55 Billion in Cuts [View all]
Purveyor Dec 2011 OP
teddy51 Dec 2011 #1
Cid_B Dec 2011 #2
Angry Dragon Dec 2011 #4
msongs Dec 2011 #5
BlueToTheBone Dec 2011 #3