Military pensions for high-ranking officers are going up significantly, according to a USA Today article. Due to a change in the Defense Authorization Act of 2007 that was intended to dispel concerns about losing too much of the top brass during wartime, pensions increased by as much as 63 percent for some officers.
Yesterday, Secretary of Defense Leon Panetta fleshed out the widely-anticipated FY 2013 defense budget. The budget showed to some extent how the Obama Administration plans on meeting the defense reductions that are necessary because of the discretionary spending caps in the Budget Control Act.
While Panetta's briefing was not as detailed as next month's budget, it included more details than we had heard in previous speeches and laid down the topline defense numbers the Administration will propose over the next five years.
Update: The American College of Physicians has also called for eliminating the SGR and the sequester and partially paying for them with war savings. To their credit, though, they propose a number of other scoreable savings options like having uniform cost-sharing for Parts A and B of Medicare, allowing Medicare to negotiate drug prices, accelerating the health insurance excise tax or limiting the health exclusion, and enacting tort reform.
Playoffs in Full Swing – The Packers packed it in; the Broncos got busted; the Saints went marching out; and Houston had a problem as the NFL Playoffs eliminated more contenders in the annual march towards crowning a champion. Challengers were eliminated in the presidential contest as well as former Utah Governor Jon Huntsman backed out and more may fall away after Saturday’s South Carolina primary.
According to today's New York Times, a report from Defense Secretary Leon Panetta will be revealed this week on how the Pentagon will meet its required spending reductions. The discretionary cuts agreed to by Congress and the White House this summer called for about $450 billion in defense reductions over ten years.
One of the most popular budget gimmicks in Washington right now is the war savings gimmick.
Two more recent recommendations have been added to our Super Committee submissions tracker, dealing with defense and health care.
Two more submissions have recently been made to the Super Committee, adding to what is becoming an interesting list of ideas for them to draw inspiration from.