Fiscal cliff threatens 277,000 federal jobs…(Hee Hee…)
By Jennifer Liberto
October 5, 2012
WASHINGTON (CNNMoney) — Federal workers have weathered a two-year pay freeze, increased health insurance premiums, and threats of more cuts from Republicans.
Now their jobs are in jeopardy. Some 277,000 workers — 14% of the federal work force — could lose their jobs in the next 12 months if the U.S. cannot avert the so-called fiscal cliff, according to a study by the Center for Regional Analysis at George Mason University.
If Congress doesn’t act by Jan. 1, the U.S. will go over the fiscal cliff, triggering about $1.2 trillion worth of spending cuts over a decade.
The cuts could slice some 48,000 federal workers from civilian defense jobs and 229,000 from federal jobs.
No one knows exactly how the cuts would fall. The White House’s Office of Management and Budget has released figures on how much is slated to be axed from each agency. But it has yet to identify programs at stake.