More than 30 percent of the Pentagon's budget, $142 billion, is used for Personnel funds - a figure Hagel is paying attention to in lieu of recent sequestration cuts.
Chicago, IL (PRWEB) June 11, 2013
Just as many soldiers return home and are thinking about their VA home loan eligibility, buying their first house and starting a family, the military has announced plans to reduce prescription drug coverage and retirement contributions. The Federal Savings Bank has been informing its veteran clients that one Congressman won't accept accept this attempt to close benefits.
Defense Secretary Chuck Hagel took questions from troops in Hawaii as part of a larger Pacific tour, who were concerned about the potential cuts the Pentagon is considering as it evaluates its expenses. More than 30 percent of the Pentagon's budget, $142 billion, is used for Personnel funds - a figure Hagel is paying attention to in lieu of recent sequestration cuts.
"We are reviewing every component of our budget, and we have to look at personnel costs because they represent the biggest part," Hagel said. "We are looking at everything across the board, [such as] entitlement programs, in every way."
Opposition to the proposed cuts to Veterans benefits
According to Joe Davis, national spokesman for the Veterans of Foreign Wars advocacy group, the pace of military life prevents service members from amassing equity in a home, and the constant travel prevents a spouse from developing a career independent of the military - severe disadvantages when re-entering the civilian workforce.
"The Department of Defense only has two carrots to entice somebody to stay 20, 30, 40 years in uniform, and that is the immediate receipt of military retirement pay, and reasonably inexpensive health care for themselves and their spouse for the rest of their lives," Davis told US News on May 30th. "The impact [from cuts to benefits] is not so much recruitment, but it will impact retention. What you could have in the end isn't the best qualified, it's the last person standing."
Apparently, those two carrots are not worth giving up, at least according to Congressman John Kline. Included in the National Defense Authorization Act - the annual defense bill for the Pentagon - being evaluated by the House Armed Services Committee this week, Kline included a provision that would prevent any proposed alterations or cuts to veterans healthcare benefits or retirement funds.
If approved by the House, the Keep Faith with TRICARE Prime Act would preserve 170,000 veterans' access to the TRICARE Prime or TRICARE Standard healthcare plan. Congressman Kline is a 25-year U.S. Marine Corps veteran himself, who cites that promises made ought to be promises kept. The Federal Savings Bank finds that if veterans are able to retain benefits their financial situations will remain stable as with eligibility for a VA home loan. For more information on veteran affair with regard to benefits and loans, please contact The Federal Savings Bank.