President Obama has proposed a 1% increase in the cost of living for federal employees and retirees, instead the 1.8% increase mandated by law, which means that this increase will be eaten up and more with next year’s increase in insurance premiums, rent or mortages, utilities, food, and everything else everyone pays. It won’t even afford a family of 4 more than a cheap night out each month.
During the entire Obama presidency, federal employees and retirees have lost money every year from a moratium or only small increases on income, and the accumulated loss over those years is close to 10% of their current net annual salary or annuity. And the President really expects federal employees and retirees to think he has supported them.
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