The federal budget deficit is the highest it’s been since World War II. Multiple studies have alleged that government employees earn more than workers in the private market. So, naturally, President Obama announced a “pay freeze” for federal workers.
This, supposedly, is news. Well, at a time when unemployment is 9.8% and interest rates are near 0%, there really isn’t much of an excuse for the government to spend less on anything because that’s less consumption, which leads to less hiring and a slower recovery, so yea, it’s news.
But you know what’s even bigger news? The fact that we’ve been living through a “pay freeze” since the 1970s! Continue reading “The “Pay Freeze” Isn’t New…We’ve Experienced It for 30+ Years”