Fiscal Cliff Threatens 277,000 Federal Jobs - Oct. 5, 2012
Fiscal Cliff Threatens 277,000 Federal Jobs - Oct. 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.