let me emphasize the political strategy being employed here. Dems/establishment ceding 'ownership' of economy to the Repubs/establishment in a setup for 2012. In turn balancing the demands of foreign creditors with domestic political opposition.
also here...
Obama Proposes Freeze
on Federal-Worker Pay
Obama proposed a two-year salary freeze for all federal civilian employees, ahead of negotiations with Congress on deficit-cutting that are likely to dominate Washington next year.and observe how the media is happy to play ball and push the 'deficit cutting' meme...
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