“Heavy US government spending cuts took a sharp swing as the Pentagon began putting about 650,000 civilian workers on unpaid leave. The Department of Defense’s civilian employees face furloughs of up to 11 days through the end of the fiscal year on September 30. The pay pinch was expected to have the most immediate impact in areas with a large military presence, such as greater Washington DC, California and Texas. The International Monetary Fund last month assailed the sharp spending cuts as ‘excessively rapid and ill-designed.'”
http://www.rawstory.com/rs/2013/07/08/pentagon-puts-650000-workers-on-unpaid-leave-due-to-cuts/
Related posts:
Russia to Grab Pension Money, Temporarily
Bitcoin supporters promise banking 'revolution'
Boats armed with machine guns to patrol RNC
Mt. Gox falls, but China is seeing a bitcoin ‘gold rush’
Jewellers open Gulf shops to serve 50-60% rise in India gold sales
Ron Paul: NSA's PRISM Is An Awakening Call
Banks desert Somalia
Japan Returns to Atomic Club With Restart Amid Public Opposition
Hedge Funds Suffer First Quarterly Net Outflows in 4 Years
Venezuela students protesting economy shot dead by gunmen
Swiss bank Wegelin, founded in 1741, to close after US tax evasion fine
Vicco to consider paying police chief in Bitcoin
What My 6-Year-Old Son and I Endured in Family Detention
Luxury private taxi app Uber launches in Zurich
Colombia Illegal Gold Mines Prosper in Global Rout