Top 10 GovCon Stories – #5 – Two-Year Federal Pay Freeze
Though a recent development in 2010, the decision to freeze pay to all civilian federal employees, including those working at the Department of Defense (excluding military personnel), was an important and newsworthy development. Political leaders felt pressure from voters, many of whom are concerned about high unemployment and the growing budget deficit. Analysts predict that the freeze will save more than $5 billion over two years, $28 billion over five years and over $60 billion in the next 10 years.
Why it matters to the GovCon space?