Pay freezes spread during brutal recession
Thursday January 22, 7:11 am ET
By Jeannine Aversa, AP Economics Writer
More employers freezing pay because of recession - even the White House WASHINGTON (AP) -- What do Tropicana Casino and Resort, Avis and the White House now have in common? They're all freezing the pay of some of their workers. It's part of a growing trend by employers facing the fallout -- economic and political -- from a brutal recession.
For companies, pay freezes are a key cost-cutting tool for surviving hard times.
For President Barack Obama, who ordered a pay freeze for White House employees earning over $100,000 a year, the move on his first full day in office sent a message to a nervous country: We're in this together.
"During this period of economic emergency," Obama said, "families are tightening their belts, and so should Washington."
SO SHOULD WASHINGTON!!!!!! OBAMA!!!! OBAMA!!!! OBAMA!!!!!!
Don't say Alstrynomics didn't give you notice. I know...all the gold bugaboos are scaring you into inflation.....but they don't know how to count money.....they are stuck in the M1, M2 and M3 world....they never learned the expansive Alstrynomics definition of money......which is shrinking rapidly after 10 years of explosive growth.
Prepare....Don't get kicked in the rear!!!! Obama!!! Obama!!! Obama!!!
Now all that is left is to appoint Ron Paul to a position of influence.