A recent survey by Texas-based First Command Financial Services shows that fewer middle-class military families can afford their traditional Thanksgiving celebration this year.
Published by USA Today and MilitaryTimes.com, the survey consisted of “62 percent of commissioned and non-commissioned officers at staff sergeant rank and higher.”
The reasons given for cutting back instead of spending as usual on Thanksgiving included “the recent government shutdown, debates over raising the debt ceiling, cutbacks known as sequestration, and plans to downsize the military.” In response to these concerns military families also said they would reduce travel and eat out less.
First Command CEO Scott Spiker said this year’s survey revealed “a drop in financial security month to month and a drop in confidence in the ability to retire comfortably.”
President Obama signed sequestration into law on August 2, 2011.
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