*This year, the post-Thanksgiving belt tightening isn’t just about too much pumpkin pie: President Obama is proposing a salary freeze for all civilian federal employees over the next two years (military personnel will not be affected).

Asserting that this was a difficult decision, Obama put the freeze into the context of a broader effort to trim government costs across the board, including freezing salaries for all senior White House officials last year, reducing improper government payments by $50 billion by the end of 2012, and putting forward over $1 trillion in deficit reduction into the 2011 budget.

“I am committed to doing my part,” the president said Monday. But “the hard truth is that getting this deficit under control is going to require some broad sacrifices” — including some on the part of federal employees.

According to the White House, the freeze — which negates a planned 1.2 percent increase in 2011 for 2.1 million workers — will save $2 billion for the remainder of fiscal year 2011, $28 billion over the next five years and more than $60 billion over the next 10.

Read more HERE.