Report: Obama Supports Military Retirement Pay Cuts
President Barack Obama said Monday that he supports the idea of reducing military retirement pay by about 20 percent. According to the Washington Times, Obama wrote a letter to congressional leaders saying he favors the recommendations put forth by a military commission. Under the plan, troops serving at least 20 years would not be affected and would continue to receive full retirement benefits. Those serving less than 20 years, however, would have their retirement checks slashed by about 20 percent. On the other hand, the proposal would help boost troops’ retirement savings accounts…Read More…