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Citing Deficit, Obama to Freeze Pay for Federal Workers Except Military

President Obama on Monday afternoon announced a two-year pay freeze for civilian federal employees but not military personnel, saying the move was needed to help bring the $1.3 trillion budget deficit under control.

The White House says the freeze would save $5 billion over two years. By delaying wage increases, the freeze would save $28 billion over the next five years. Watch his remarks:

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