Federal Average Pay, $123,049, as America Collapses
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Federal workers earning double their private counterparts [source]
Federal workers have been awarded bigger average pay and benefit increases than private employees for nine years in a row. The compensation gap between federal and private workers has doubled in the past decade.
Federal civil servants earned average pay and benefits of $123,049 in 2009 while private workers made $61,051 in total compensation, according to the Bureau of Economic Analysis. The data are the latest available.
The federal compensation advantage has grown from $30,415 in 2000 to $61,998 last year.
Public employee unions say the compensation gap reflects the increasingly high level of skill and education required for most federal jobs and the government contracting out lower-paid jobs to the private sector in recent years.
"The data are not useful for a direct public-private pay comparison," says Colleen Kelley, president of the National Treasury Employees Union.
Chris Edwards, a budget analyst at the libertarian Cato Institute, thinks otherwise. "Can't we now all agree that federal workers are overpaid and do something about it?" he asks.
Last week, President Obama ordered a freeze on bonuses for 2,900 political appointees. For the rest of the 2-million-person federal workforce, Obama asked for a 1.4% across-the-board pay hike in 2011, the smallest in more than a decade. Federal workers also would qualify for seniority pay hikes.
Congressional Republicans want to cancel the across-the-board increase in 2011, which would save $2.2 billion.
"Americans are fed up with public employee pay scales far exceeding that in the private sector," says Rep. Eric Cantor, R-Va., the second-ranking Republican in the House.
Sen. Ted Kaufman, D-Del., says a pay freeze would unfairly scapegoat federal workers without addressing real budget problems.
What the data show:
•Benefits. Federal workers received average benefits worth $41,791 in 2009. Most of this was the government's contribution to pensions. Employees contributed an additional $10,569.
•Pay. The average federal salary has grown 33% faster than inflation since 2000. USA TODAY reported in March that the federal government pays an average of 20% more than private firms for comparable occupations. The analysis did not consider differences in experience and education.
•Total compensation. Federal compensation has grown 36.9% since 2000 after adjusting for inflation, compared with 8.8% for private workers.
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The worse the economy gets, the more the private bank, The Federal Reserve, makes in interest. There is no incentive to have fiscal responsibility. The private bank somehow owns elected officials, as they don't seem to listen to, or care about, the plight of the average American.
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NASA Maximum/Cheap/Stealth Kill Memo July 2001?
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"To The Brink Of Collapse"
Text with video:
Fed Leads America "To The Brink Of Collapse"
Paul Joseph Watson
Thursday, August 12, 2010
When even the New York Times and CNN are admitting that the United States faces not only a double-dip recession but potentially a new great depression, any alarm bells that have not been rung should now be sounding loudly.
Following in the footsteps of the New York Times' David Krugman, who in June wrote that the United States had entered a third depression similar to the Long Depression of the 19th century, CNN Money carried an article yesterday brazenly entitled, Is this finally the economic collapse?.
The piece, written by Keith R. McCullough, points out that the Fed's announcement that it will start buying Treasury debt, is a "crossing the Rubicon" moment and "could lead the country to the brink of collapse".
"Crossing the 90% debt/GDP threshold is the equivalent of crossing the proverbial Rubicon of economic growth. It's a point from which it's almost impossible to return," states the article, adding that the market has not responded to quantitative easing so to engage in more of the same would be completely futile.
"With 40.8 million Americans on food stamps (record high) and 45% of the unemployed having been seeking employment for 27 weeks or more (record high), what's left if (or when) QE2 doesn't kick start GDP growth? Should we start begging for QE3? Should we cancel the bomb of the National Association of Realtors' existing home sales report, scheduled for public release on August 24th? Or should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?" writes McCullough.
The Dow Jones slipped by 265 points yesterday as both the Bank of England and the Federal Reserve indicated that, as we predicted all along, the happy clappers who blithely talked of "robust recovery" were in fact completely wrong and now that the futile and transitory life-support machine of quantitative easing has been turned off, the picture looks almost as bad as when the crisis began in 2008.
Predictions on GDP growth seem to be shrinking by the day as Ben Bernanke greases the skids for QE2 -- a fresh round of printing money out of thin air, destroying the long term value of the dollar which has already had 9 consecutive down weeks since June but ensuring the central bankers that run the United States continue to reap lucrative interest payments on the spiraling national debt. The U.S. government, via the taxpayer, paid out nearly $20 billion in interest on debt last month alone, as the Federal Reserve enjoys record profits, only 20 per cent of which is returned to the Treasury.
With Barack Obama's political dynasty crashing and burning just as fast as hopes of an economic recovery combust, while rhetoric and tension with Iran reaches a crescendo, from different directions these three developments race towards an identical and ominous consequence -- war.
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Just as the Great Depression was only really neutralized by the involvement of American forces in World War II in 1941, conflict on a similar scale could be the only tool with which to reverse the decline.
The elitists who run the planet would seemingly prefer to opt for a slow, suffocating, anemic decline that gradually lowers living standards and stealthily deflates the American dream without the victims being able to sufficiently rouse themselves from their fluoride-induced slumber to do anything about it. But with the pace of events seemingly now getting out of hand even for the custodians of the new world order, more drastic action may be called for.
With the agenda for world government frustratingly behind schedule, the more daring move would be to launch another catastrophic global war in a desperate effort to kill innumerable birds with one huge stone. The consequences would of course be horrific for mankind, but from the ashes of world war three, the globalists would be able to re-build the globe in their image.
The stakes have not been this high for some 70 years, and as Marc Faber advised recently, the best things to do to prepare for whatever is coming are to buy gold, move away from urban areas and purchase farmland, and be prepared to defend that land with force should civil unrest and food riots occur, as many are now forecasting.