The Fiscal Commission issued its final set of recommendations detailing several that would affect federal employees. The panel suggested reducing the federal workforce by 200,000 employees over the next five years, changing the FEHB to a defined contribution premium program and several other short term changes.
Rep. Kevin Brady (R-Texas) introduces legislation to cut the federal workforce by 10 percent and freeze federal pay for an additional year. The bill includes a host of suggestions to cut spending from both the commission and from the Obama and Bush administrations. Brady said collecting unpaid taxes from federal employees could result in $3 billion.
After a year-long study, the Association of Government Accountants issued a report suggesting a dozen changes and steps that would improve how the U.S. Treasury Department tracks government-wide revenue, spending and the federal deficit.
On this week’s edition of Bloomberg Government’s Capital Impact show, analysts will discuss the deficit’s impact on Medicare and Medicaid, the costs of requiring capital buffers on money market funds. Plus, what legislation will Congress tackle in its lame-duck session? Setember 27, 2012
ANDREW TAYLOR Associated Press WASHINGTON (AP) — The federal government’s budget deficit has fallen to $486 billion, the smallest pool of red ink of President Barack Obama’s six-year span in office, a new report said…