[quote=bearishgurl]Great post, EconProf! I DO AGREE that too much got spent in government employees’ raises and pensions and this is coming from a retired government employee (who “retired” under an older, much less “lucrative” system). I also think that the bulk of these employees’ educational and skill levels do not warrant their current pay scales, benefit levels and pension programs.
I hope you are correct in your analysis.[/quote]
I concur, EconProf: Excellent post. Nothing lends more credence to your post, or is more telling in terms of how business leaders mistrust this president and his administration, than the statistic that tells us that between $800Bn and $1Trn is sitting on businesses’ balance sheets and is not being used at present.
Unleashing this untapped cash in terms of investments, inventory and job creation will be massive. We’re seeing a near total repudiation of the “Big Government is Good” lie throughout the world. Look at the rise of center-right governments in Scandinavia, the massive changes taking place in Britain, and also France, and the realization amongst American voters that we’ve been sold a bill of goods.
Krugman’s hysterical column in the NYT, combined with Obama’s assertion that voters are “scared” and thus unable to vote properly, marks the swan song of an intellectually bankrupt regime.
