The Golden Age of Government
America is experiencing a recession – at least if you work in the private sector. According to USA Today, the number of federal government employees earning big bucks has rapdily increased since the country fell into a recession two years ago.
From December 2007 through June 2009, there has been a 119 percent increase in federal employees who earn $150,000 or more.
Jobs with the federal government have grown 9.8 percent since the economy sank. Meanwhile, the private sector has shed over 7 million jobs – a decrease of 6.3 percent.
The average federal employee earns $71,200 a year while local and state government employees average $54,100 a year. The private sector – despite all the big, corporate CEOs, rock stars, movie stars, and sports stars – averages just $40,300 per year.
The private sector – otherwise known as the wealth-generating portion of our economy – is falling further behind the public sector – otherwise known as the wealth-destroying part of our economy. It’s no wonder our recession has lasted two years, with unemployment topping 10 percent.