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mlk_man's account talk
- Thread starter tsptalk
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mlk_man
Banned
imported post
Leave it to T.O............................here's his latest comment:
PHILADELPHIA -- Terrell Owens thinks the Eagles could be undefeated at this point in the season if they had Brett Favre at quarterback.
Think McNabb might have something to say? :shock:
Leave it to T.O............................here's his latest comment:
PHILADELPHIA -- Terrell Owens thinks the Eagles could be undefeated at this point in the season if they had Brett Favre at quarterback.
Think McNabb might have something to say? :shock:
mlk_man
Banned
imported post
mlk_man wrote:
[align=left]
No Pay Freeze in Deficit Reduction Package Passed in Senate
By Ralph Smith
11/7/2005
Click here for more articles by Ralph Smith
[/align]
You can have daily headlines from FedSmith.com delivered right to your desktop each business morning. The service is free and you don't get junk e-mail as the price of your subscription. Just click here to sign up!
Federal employees who are watching the saga of the 2006 pay raise will take heart in a new development.
The Senate passed a deficit reduction bill last week. For those of you who want to spend most of your day reading it, just click here to access the Deficit Reduction Omnibus Reconciliation Act of 2005.
Here is the good news: There is no mention of a freeze on the 2006 pay raise for federal employees.
As some readers will recall, we recently published an article that detailed the intent of a group of Senators who have referring to themselves as the "Fiscal Watch Team." (See Just When You Thought It Was Safe!) One of the ways the group proposed to cut the federal budget deficit was to freeze the salaries of federal lawmakers for most and federal employees. The major exceptions to the pay freeze would be military personnel and law enforcement personnel. Here is a press release outlining the proposal to cut federal spending by as much as $125 billion.
We have also reported on a proposal in the House of Representatives to save money and reduce the federal deficit by changing the way in which the annuity payments for future federal retirees would be calculated. Under this proposal, the annuity payment would be calculated based on the "high five" for an employee's earning years instead of the "high three" years. (See "High Three" to "High Five"?)
As of this writing, neither of the two proposals outlined above has passed into law. Readers have reacted vehemently to both proposals. You can see for yourself by checking out the comments on the proposal in the Senate to freeze the 2006 salary for federal employees.
The office of Senator John Ensign (R-NV) told Government Executive late last week that the Senator will "absolutely" introduce a separate bill or an amendment to stop the federal employee pay raise in 2006.
The reality is that neither of these proposals, insofar as the impact on federal employee retirement or the 2006 pay raise, are likely to be passed into law. Both the House and the Senate have passed a bill that authorizes a 3.1 percent pay raise for federal employees next year. A few readers have written in with the opinion that it is too late for Congress to stop the pay raise for next year because it is in one of the bills passed by both chambers in Congress.
And, while the fact the 3.1 percent raise is in a bill passed by both chambers increases the likelihood the pay raise will become final, Congress is still working on the budget. At the time of this writing, anything is still possible. Senator Ensign's pledge to introduce an amendment or new bill to halt the pay freeze is an indication the issue is not completely resolved as Congress has yet to finish its work on the 2006 budget and the federal government is largely running on a continuing resolution as a result.
There is no doubt that the proposals will gain some publicity for those legislators who will seek to gain some publicity and to enhance their reputation for wanting to cut government spending during their next election cycle. In response to those readers who have asked, it is likely active federal employees will get an average 3.1 percent pay increase next year. But it is not finalized. The process isn't over yet.
mlk_man wrote:
Okay, go ahead and spend it.........................:^Don't spend that money just yet...................
[align=left]
[/align]
Just When You Thought It Was Safe!--New Move in Senate to Freeze Feds' 2006 Raise
By Ralph Smith
10/27/2005
Click here for more articles by Ralph Smith
You can have daily headlines from FedSmith.com delivered right to your desktop each business morning. The service is free and you don't get junk e-mail as the price of your subscription. Just click here to sign up!
Here is a new twist to a well-worn topic. The topic is freezing pay raises for federal employees. The new twist is a move in the Senate to accomplish this goal.
As we have noted in several articles recently, (See Federal Pay: The Good, Bad and Ugly) the federal employee pay raise is part of the political process. Unlike the COLA's for retirees and the pay raise for military personnel, the yearly pay raise for executive branch employees is sometimes subject to vigorous debate in Congress and is eventually signed by the President. In past years, the President's recommendation for a smaller pay raise has been overridden by Congress.
That may still happen this year. Both the House and the Senate have approved a 3.1% pay raise for federal employees in 2006. That still isn't law as the appropriations bill with this provision is yet to be ironed out in a conference committee. And, of course, President Bush has not signed off on the law either.
In effect, it looks like the raise may go through but strange things can happen in our Republic as new laws are being passed.
This is not a normal year for government spending. Government expenses are rising rapidly. Discretionary federal spending has gone up 48 percent since 2001. Some federal agencies have much more money to spend on programs than they ever had.
But the recent natural disasters, the war in Iraq, and other legislation passed by Congress is creating fiscal problems. The deficit is growing and political pressure is building to cut government spending.
Now, seven Senators known as the "Fiscal Watch Team" have asked Congress to offset the costs of paying for damage from natural disasters along the Gulf Coast. One way to help offset these costs is to freeze the salaries for lawmakers and federal employees for 2006.
And, in a related development, President Bush also said yesteday he is willling to back the Senate effort to cut the federal budget.
Here is what the Heritage Foundation had to say about the proposal to freeze salaries for executive branch employees and lawmakers:
Lawmakers and federal employees should not exempt themselves from the sacrifices necessary to rebuild the Gulf Coast following Hurricane Katrina. A one-year salary freeze for lawmakers and federal civilian employees allows them to take part in the grand American tradition of sacrifice. This will save $2 billion in 2006.
The members of the Senate Fiscal Watch Team are John Ensign (R-NV), Sam Brownback (R-KS), Tom Coburn (R-OK), Jim DeMint (R-SC), Lindsey Graham (R-SC), John McCain (R-AZ), and John Sununu (R-NH).
Their goal is to cut government spending by $115 billion in the next two years.
The agenda for cutting spending, in addition to freezing federal employee salaries next year is straight-forward. Here is a quick summary.
Reduce non-discretionary spending by five percent across the board for the federal government. This has happened before. Between 1991 and 1996, discretionary spending was essentially frozen for the federal government.
The proposal also calls for delaying the new Medicare Drug Entitlement for two years. This change would save about $80 billion over two years.
Rescind highway bill "pork projects." This would save approximately $24 billion over the next four years.
The proposal also calls for creating a government waste commission. The commission is called "CARFA." This commission would be structured similar to the way military bases are closed. Congress would vote "up or down" on the entire list of suggestions as to how to cut back on government spending. There are currently 25 Senators who are co-sponsoring the CARFA legislation.
Senator Brownback said about the proposal to cut spending:
“I’m pleased to be a part of this team of senators dedicated to taking a stand against the culture of spending that grips Congress. Before we commit ourselves to significant new spending for hurricane victims, it’s imperative that we ask the question of where these funds will come from. There is no better time than now to find wasteful spending and redirect it to Americans who need it most.”
The bottom line on your 2006 raise: Don't spend the money yet. Chances are the 3.1% raise will still go through but until the legislation is finalized and signed by the President, the deal is not done. Your 2006 raise may yet go in the direction of helping to cut the federal budget deficit.
[align=left]
No Pay Freeze in Deficit Reduction Package Passed in Senate
By Ralph Smith
11/7/2005
Click here for more articles by Ralph Smith
[/align]
You can have daily headlines from FedSmith.com delivered right to your desktop each business morning. The service is free and you don't get junk e-mail as the price of your subscription. Just click here to sign up!
Federal employees who are watching the saga of the 2006 pay raise will take heart in a new development.
The Senate passed a deficit reduction bill last week. For those of you who want to spend most of your day reading it, just click here to access the Deficit Reduction Omnibus Reconciliation Act of 2005.
Here is the good news: There is no mention of a freeze on the 2006 pay raise for federal employees.
As some readers will recall, we recently published an article that detailed the intent of a group of Senators who have referring to themselves as the "Fiscal Watch Team." (See Just When You Thought It Was Safe!) One of the ways the group proposed to cut the federal budget deficit was to freeze the salaries of federal lawmakers for most and federal employees. The major exceptions to the pay freeze would be military personnel and law enforcement personnel. Here is a press release outlining the proposal to cut federal spending by as much as $125 billion.
We have also reported on a proposal in the House of Representatives to save money and reduce the federal deficit by changing the way in which the annuity payments for future federal retirees would be calculated. Under this proposal, the annuity payment would be calculated based on the "high five" for an employee's earning years instead of the "high three" years. (See "High Three" to "High Five"?)
As of this writing, neither of the two proposals outlined above has passed into law. Readers have reacted vehemently to both proposals. You can see for yourself by checking out the comments on the proposal in the Senate to freeze the 2006 salary for federal employees.
The office of Senator John Ensign (R-NV) told Government Executive late last week that the Senator will "absolutely" introduce a separate bill or an amendment to stop the federal employee pay raise in 2006.
The reality is that neither of these proposals, insofar as the impact on federal employee retirement or the 2006 pay raise, are likely to be passed into law. Both the House and the Senate have passed a bill that authorizes a 3.1 percent pay raise for federal employees next year. A few readers have written in with the opinion that it is too late for Congress to stop the pay raise for next year because it is in one of the bills passed by both chambers in Congress.
And, while the fact the 3.1 percent raise is in a bill passed by both chambers increases the likelihood the pay raise will become final, Congress is still working on the budget. At the time of this writing, anything is still possible. Senator Ensign's pledge to introduce an amendment or new bill to halt the pay freeze is an indication the issue is not completely resolved as Congress has yet to finish its work on the 2006 budget and the federal government is largely running on a continuing resolution as a result.
There is no doubt that the proposals will gain some publicity for those legislators who will seek to gain some publicity and to enhance their reputation for wanting to cut government spending during their next election cycle. In response to those readers who have asked, it is likely active federal employees will get an average 3.1 percent pay increase next year. But it is not finalized. The process isn't over yet.
oimported post
My thinking is those investors that sold in May came back and found the market way higher than they expected with the August - October movement now they have to buy in at a higher value. This caught them off guard then it took them time to realize if they keep with their strategy it still might pay some. The bull is snorting and the cows will come home!
My thinking is those investors that sold in May came back and found the market way higher than they expected with the August - October movement now they have to buy in at a higher value. This caught them off guard then it took them time to realize if they keep with their strategy it still might pay some. The bull is snorting and the cows will come home!
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