Friday Morning Federal Newscast – October 15th

Military members more in debt than civilians,

The Morning Federal Newscast is a daily compilation of the stories you hear Federal Drive hosts Tom Temin and Amy Morris discuss throughout the show each day. The Newscast is designed to give FederalNewsRadio.com users more information about the stories you hear on the air.

  • Military families and servicemembers are significantly deeper in debt than the general population. According to a recent survey on the financial capability of adult Americans, more than 80 percent of military personnel surveyed said they had over $10,000 in credit card debt and mortgage and auto loans. One-in-four servicemembers reported that they had overdrawn their checking accounts, and one-in-five said they had used payday or auto title loans in the last five years. The Financial Industry Regulatory Authority also found that military families are more likely to plan for retirement than the general population and more regularly check their credit reports. This was the first survey to measure the overall financial capabilities of military personnel.
  • Veterans who are leaving the military might need some help finding a job in the civilian world. So, the Department of Veterans Affairs wants to develop online tools to help the process. The Washington Business Journal reports Serco has landed a $20 million contract with the VA to come up with a Web portal with job hiring tools, e-learning content, simulations, videos and chat rooms. It will also establish a call center and career coaching.
  • More overtime may be coming for the Social Security Administration. The House will vote in November on a bill to provide $250 payments to Social Security recipients and federal retirees. Speaker Nancy Pelosi says the payment, if enacted, would make up for the lack of a 2011 cost-of-living increase. Social Security is expected to announce today that more than 58 million retirees and disabled Americans will go a second consecutive year without an increase in benefits.
  • A large federal employee union is jumping into the mid-term elections. The American Federation of Government Employees will air radio ads attacking Republican congressional candidates who promise to cut government spending and freeze federal hiring. The ads will run in seven states where the races are close. AFGE represents about 600,000 federal workers. The ads will air in Kentucky, Minnesota, Missouri, Nevada, Ohio, Pennsylvania and West Virginia.
  • The Energy Department has named Mike Locatis as its new chief information officer. Sources tell Federal News Radio, Secretary Steven Chu announced the appointment last week. Locatis will start Monday. Locatis would replace Tom Pyke who retired in February after 45 years in government. Bill Turnbull has been acting CIO since Pyke retired. Locatis is currently deputy CIO in California. This would mean the top two technology officials from the state are likely to join the federal government. The Defense Department is expected to name Teri Takai, California’s CIO, as its CIO in a matter of weeks.

More news links

Government to report on $1 trillion-plus deficit

Pentagon working on guidance for gays in military

SEC postpones vote on settlement with ex-auto czar

And Finally

  • No, your eyes aren’t going bad. President Barack Obama announced via Twitter that the executive mansion was to be bathed in pink light for one night. The White House becomes the Pink House in recognition of October as National Breast Cancer Awareness Month. Last year, the Obamas hung a large pink ribbon on the Pennsylvania Avenue side of the White House.
    (AP Photo/Charles Dharapak)

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