Pentagon to cut pensions for veterans

August 19, 2011 by  
Filed under Veterans Issues

(RT)   With the Pentagon looking for new ways to cut back on costs, a report released this week presents a plan to save $250 billion over the next two decades. All they have to do is take away retirement plans from veterans.

Defense Secretary Leon Panetta said Tuesday that any large cuts in defense spending would “terribly weaken” the national security of the US. “This is not about the Defense Department or the State Department,” Panetta told reporters. “This is about the United States of America.”

That being said, the DoD doesn’t plan on curbing the $115 billion it will spend on rust-proofing their fleets during the next five years. Sure the Pentagon announced this week that they would be investigating the Defense Advanced Research Projects Agency, DARPA, to make sure they aren’t abusing the government funding that makes up their multi-million dollar contract. And yes, last week also saw the Falcon Hypersonic Technology Vehicle-2 unmanned aircraft lose contact with military operators after the Pentagon has put $300 million into the project. Those operations will continue.

Benefits, however, will not.

Under current military procedure, US vets stand to receive a retirement income of half of their salary after completing 20 years of service in the armed forces. A 24-page presentation outlined this week, however, proposes something drastically different. Under the new deal, the “Modernizing the Military Retirement System” would put in place a 401k-style plan that would offer government contributions once vets reach regular retirement age.

While the new initiative would open benefits up to those who serve less than 20 years — and currently out in the cold if they part ways with the Pentagon before that — vets with lengthy tenures with the DoD stand to receive substantially less.

“If you want to maintain the core mission which is to defend the nation and have the strategic capabilities we need, we can’t have all their money tied up in retirement programs,” says former Congressional Budget Office Director Douglas Holtz-Eakin, reports the Daily Mail.

Holtz-Eakin says the new plan could save the US a fortune over the next 20 years as the Pentagon is aiming to cut around $400 billion in spending. In the meantime, however, some are worried that the new plan might discourage Americans from enlisting.

“My main concern is it might change the whole outlook on people wanting to join the service,” veteran Danny Seeman tells WBOC 16.

Panetta, meanwhile, says, “We need to have a responsible conversation about how we are going to prepare ourselves for the future.”

Wednesday also saw the competition of the fiftieth center fuselage for the F-35 Joint Strike Fighter manufactured by the Northrop Grumman Corporation for the Pentagon. That would all be fine and dandy if all 20 of the aircraft weren’t currently grounded.

Let’s just hope they aren’t gathering any rust while sitting around. That’s a bill that’s high enough as it is.

http://rt.com/usa/news/pentagon-cut-retirement-pension/

Comments

12 Responses to “Pentagon to cut pensions for veterans”
  1. Ed says:

    How much money would be saved if senator’s, congressmen and women, and the salaries of the president, and vice president were to be cut? Just last week, presidential staff members were given raises! So, just where did THAT money come from? All politicians sicken me anymore to say the least! Do you think men and women will want to serve the very people that want to cut their throats when they get injured and can’t work when they come back from a war? Ya wanna cut some benefits? Cut all the expense accounts of politicians by 75%, and cut their pay an additional 75%, and watch them squirm to no end! You lead by example, and our country’s leaders as of the moment are doing a piss-poor job at leading this nation!

  2. Brad G says:

    My Air Force veteran friend told me in May or June that he got his retirement check and it had been reduced $100 from ~ 1400 to ~1300 a month. All he got was a letter telling him they were going to do this in the same envelope as his smaller check…no notice. So this is already occurring for present vets…Now, this may have a ‘temporary’ reduction to help prevent a debt ceiling breach off, or it may have permanent, I haven’t talked to him this month to see if it went back up.

  3. Brad G says:

    “may have BEEN a ‘temporary’ reduction”, and please disregard the ‘off’ after “debt ceiling breach”..not sure where that came from.

  4. Augustine says:

    When will our government take care of its own people? Why to do they insist on taking care of illegal aliens before meeting the needs of American citizens? Why do they ship funds in the form of “foreign aid” to countries which intend to do us harm while leaving Americans to fend for themselves?

    Cut foreign aid, disallow illegal aliens any form of public assistance and then if further cuts are needed, cut into Federal salaries beginning with Congress and those at the top of the Executive branch!

    It is utter nonsense to cut the benefits of those who risk life and limb (along with their sanity), those who make sacrifices to sustain the Constitution of the United States while pouring unlimited benefits into a trough for those who least deserve the benefits of liberty let alone contribute marginally if not at all.

  5. bob wocca says:

    We don’t have a fucking government.Never had and never will.It’s all flim-flam on people.It’s ALL CORPORATION.WAKE THE FUCK UP FOR GOD’S SAKE.

  6. The Mechanic says:

    Imagine the money the US would save if we closed most of the overseas bases and brought the troops home to do the job they’re paid for; PROTECTING OUR BORDERS FROM FOREIGN ATTACKS. The whole US military industrial complex is nothing more than a whore to globalist bankers who want to steal oil and resources from other countries. The lame-stream media whore propogates the scheme as “humanitarian aid” and creating “democracy” world wide and the sheeple think it’s all for a good cause so they’ll keep blindly paying “taxes” to feed the machine while they talk about football and fat ass Chaz Bono on DWTS. You sheeple F’Ks make me want to puke.

  7. SPARKY says:

    This is further proof that the government can’t walk & chew gum at the same time…
    At least 1/3 of the Pentagon’s budget is WASTE… But, does the Pentagon set up a department manage every contract and do Cost Analysis…Only at a very minimum, I’m sure…

    Does the Pentagon penalize contractors for cost over-runs, non performance or not finishing on schedule?….Hell NO!!! (Probably several billion saved here)

    Oh, and see what their proposing to do with troop withdrawal in Iraq by reducing our troop strength to 3,000 by year end…I mean, how dumb is that!… Our guys would become targets and be killed our with only a handful of troops…It should be 10,000 or NOTHING!

    The Federal Government & the Pentagon have become irrelevant and, as one can see, are totally irresponsible in dealing with budgets and perhaps, everything else…

  8. MajWilliamMartin says:

    Pentagon Reports Billions of Dollars in Contractor Fraud (Huffpost)

    The Pentagon paid hundreds of billions of dollars to defense contractors engaged in criminal or civil fraud — in some cases paying the companies after they were convicted, according to a new Defense Department report.

    At least 91 contractors holding contracts worth $270 billion were the subjects of civil fraud judgments — and in some cases criminal fraud convictions as well, many of which resulted in fines, suspensions or debarments. Even so, Defense Department contracting officers still assigned $4.9 billion worth of work with these companies after the fraud was uncovered, the report said.

    The contractors identified in the report include such blue-chip entities as Boeing, Lockheed Martin, General Dynamics, Pratt & Whitney, IBM and even the Yale medical school.

    The Pentagon said its own sloppy bookkeeping, missing records and inadequate training of acquisition officials were to blame for the mess. The Pentagon also acknowledged that the data in the report, which covers only 2007 through 2009, are probably incomplete because the Defense Department cannot accurately track individual contractors or how much is actually spent. And the report only tracks those fraud cases of over $1 million.

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