Federal News Countdown: Top stories of Summer 2011

Friday - 9/2/2011, 5:47pm EDT

Today's guests are:
- Francis Rose, host, In Depth
- Jason Miller, executive editor, Federal News Radio

Jason's stories
#3 Postal Service: Out of cash next month
From Federal News Radio:

The Postal Service reported Friday it lost $3.1 billion in the third quarter of the fiscal year. With no end to the financial bleeding in sight, postal officials said they would default on payments to the federal government due next month.

#2 Debt deal means big cuts for agency budgets
From Federal News Radio:

It came down nearly to the wire, but late Sunday night, President Barack Obama announced a deal had been struck to raise the federal government's borrowing limit.

#1 Buyout Rollout: A list of agencies offering buyouts, early outs
From Federal News Radio:

Facing harsh budget realities, some agencies are offering buyouts and early retirements to their employees.

Francis' stories
#3 ManTech Leads Companies Seen Losing Sales on U.S. Debt Deal
From Bloomberg:

Nine of the biggest names in the U.S. defense industry receive more than 70 percent of their revenue from the federal government and have the most to lose in the budget cuts approved by Congress this month, according to data compiled by Bloomberg.

#2 Buyout Rollout: A list of agencies offering buyouts, early outs
From Federal News Radio:

Facing harsh budget realities, some agencies are offering buyouts and early retirements to their employees.

#1 OMB mandates 5 percent cut to 2013 budgets
From Federal News Radio:

Agencies must submit fiscal 2013 budget requests that cut at least 5 percent in discretionary spending compared with this year.

Agencies must also submit versions of their 2013 budgets with options for cutting at least an additional 5 percent, or a total of at least 10 percent, below discretionary spending for this year.