When the recession started, there was one...thats right...ONE employee at the D.O.T.(dept of transportation) that was making $170k or more. Today with how bad the economy is, and people that cant find jobs, living on food stamps and there is , not 1...not 2...not 10...not 100...but 1,690 employees at the DOT that are making over 170k per year. This all happened in 18 months! Defense Department civilian employees earning $150,000 or more increased from 1,868 people in December 2007 to 10,100 in June 2009. About 19% of all federal employees are making over 100k per year now BEFORE overtime & bonuses are counted. So 1 out of every 5 people. The growth in six-figure salaries has pushed the average federal worker's pay to $71,206, compared with $40,331 in the private sector. So now you know where all this bailout money is going. http://www.usatoday.com/printedition/news/20091211/1afedpay11_st.art.htm?loc=interstitialskip
When comes the point where "joe sixpack", en masse, just 'gives up'? Stops producing nothing more than what is strictly required for the survival of himself and his family? What will those 'government' people do then? Oh wait....that happened a long time ago, as America hasn't produced at least as much as it consumes for an entire generation. So when comes the point when "Jian Chinaman", en masse, give up on supporting America? When foreigners stop financing America, its game over for all the unproductive activity. It'll be like Russia in the early 1990s; only people who could generate exports for hard currency had any semblance of a lifestyle, and everyone else's wealth got destroyed.
the secret to surviving recessions and depressions is to work for the government... sshhh don't tell anyone.
You ever wonder sometimes that's maybe exactly what the government would like? Join us or die? Sounds about the right sort of mind set I'd expect from them with the kind of actions they're making right now. Though I think this is more the administrations side of things rather than the rest of the politicians.
It is very expensive no matter how frugal you get. At least $1500 for mortgage, Taxes and insurance $700 Medical Insurance - a very basic one $1000 for utilities, out of pocket medical expenses, food, car maintenance etc. That takes it to $3200 a month and that too after Tax. If the family ever dares to go for a vacation or have some fun, add another 1000 per month. Where is all the above money going to? 1. Bankers 2. Insurers 3. Government 4. Doctors 5. Lawyers
I would highly recommend young people to seek employment with the fed or state for job security and a pension. But only if your goal in life is to be "someplace" for 30 years, collect your pension and die. Imo, what a useless employer the fed and state is. I knew this Fed engineer worked 20+ years on the same project day in and day out which was never built. How fulfilling [sarcasm]. Anyone read any inspiring books written by a state employee? I worked a short stint at the post office, frankly my brain turned to mush after a few months. I suppose if you enjoy pissing people off (ie the people who pay your salary) and are unable to do anything about whatever, a fed or state job is for you. Granted my interactions may be limited but boyaah, I've seen all I want to see.
Fed employees will always be taken care of because - politicians are Federal employees. Though sometimes I wonder about the chicken-egg question. With corporations sending so many U.S. jobs overseas to pump the stock price and exec bonuses, it's seems like the gov't becomes the hirer of last resort - and so it keeps growing. Stop outsourcing good jobs and there will be more opportunity other than just gov't employment.