Published: December 24, 2012
Sequestration And Fiscal Cliff Fears Drive Belt Tightening In Military Families, First Command Reports
FORT WORTH, Texas - (BUSINESS WIRE) - As the year-end fiscal cliff deadline approaches, military personnel are
increasingly worried about their financial futures - and they are taking
actions to shore up their household finances.
The First Command Financial Behaviors Index reveals that two thirds of
middle-class military families (senior NCOs and commissioned officers in
pay grades E-6 and above with household incomes of at least $50,000) are
not confident that Washington will be able to avert the automatic tax
hikes and spending cuts known as the fiscal cliff that kick in on Jan. 1
unless Congress intervenes.
"The fiscal cliff is a major concern for servicemembers and their
families," said Scott Spiker, CEO of First Command Financial Services,
Inc. "Roughly seven in ten believe that a failure to resolve the fiscal
cliff stalemate will mean an increase in their taxes and a slowdown in
job growth. Two thirds of survey respondents fear the U.S. economy might
slip back into recession."
To read the complete release at NewsBlaze,
Sequestration And Fiscal Cliff Fears Drive Belt Tightening In Military Families, First Command Reports,
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