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Govt. pensions on the chopping block

Key lawmakers are considering reductions in support for federal workers' pensions as they search for cuts that can clear the way for an increase in the national debt limit.

By David Espo | Updated on May 19, 2011
U.S. Treasury Secretary Timothy Geithner speaks to members and guests of The Harvard Club of New York City, Tuesday, May 17, 2011 in New York. (AP Photo/Mary Altaffer)

WASHINGTON (AP) — The White House and key lawmakers are considering reductions in student loan subsidies, farm payments and support for federal workers’ pensions as they search for cuts that can clear the way for an increase in the national debt limit, according to officials in both parties.

The negotiations are still in the early stages, with no final decisions made, these officials said Wednesday. While the amounts involved so far are relatively modest, the talks led by Vice President Joe Biden appear likely to assume greater public prominence with the evident collapse of a freelance attempt by the “Gang of Six” senators to produce a sweeping bipartisan plan to reduce red ink.

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