Baxter Black: A cowboy’s take on the economy
October 4, 2012
I've been trying to apply some cowboy logic to a Stimulus Plan that depends on hiring more government workers as a solution to unemployment in the private sector. I have many friends who work for the government. The jobs might not always be as exciting but the job security and benefits are solid gold! My personal economist says the average federal worker making $81,258 annually has benefits of $41,791, for a total of $123,049.
The basic question is, "How many private sector workers does it take to support one federal worker?"
From 2008-2010, the beginning of the recession, the private sector has lost 7.9 million jobs, more or less, while 590,000 jobs were gained in the public sector. It continues on. Fewer and fewer taxpayers are paying for more and more government, which is trying to create jobs. But the increasing number of government jobs created just puts a bigger burden on the fewer and fewer taxpayers. So eventually when the private sector taxpayers can no longer fund all the government workers, their taxes will be raised to cover the new hires. Sound familiar?
These same private sector taxpayers are also expected to pay for food stamps for 30% of all of us, support the 10% unemployed, also those on Medicare, government pension plans, unemployment insurance and free government health care.
Not to mention those entrepreneurs that some say should not take credit for their own success, that they owe it to the government who built the roads, and rails and buildings and internet. This begs the question, "Where did the government get the money to build dams and freeways and monuments to politicians in the first place?" Your taxes. When you seek out the source of who really built America; the last man standing will be a person with an idea, a shovel, and the will to work.
According to my private economist, it takes 17.34 private sector workers making an average of $61,051 wages and benefits, to pay for one average federal employee.
Recommended Stories For You
Here's some math for you; the Economic Policy Institute (a self-described think-tank) offers this convoluted reasoning: HEADLINE: "Public Sector Job Losses Causing Slow Economic Recovery" They state that there should be 1.1 million more public sector jobs. These new 1.1 million new jobs will, in turn, "…produce collateral economic activity that will create 275,000 more private sector jobs." Huh?
This is the kind of fuzzy thinking that probably only a Harvard graduate might understand.
"Ask not what your government can do for you, ask what you can do for yourself." Dallas Horton, philosopher and self-made man.