Federal pay freeze???

Citing deficit, Obama freezing federal worker pay

If only he were kidding.
But I checked the calendar - Wednesday is 1 December, not 1 April.

... so Obama plans to give one large chunk of consumers less expendable income in the new year. Less income => less spending => less demand => less production => less hiring => less spending...
... you get the idea.

Just a reminder: 10-year treasuries are now yielding 2.66%, and folks are lining up to buy 'em.
The U.S. Government, if it so chose, could borrow lots of money at very low interest.
... But, for some reason, this is not the plan.

p.s. and that "citing deficit" bit is just bizarre! - why has our Democratic administration bought into GOP myths???
(Recall: GOP Congress voted tax cuts & TWO off-budget wars!)