The chart below, posted by ClusterStock, tracks the number of employees in goods-producing sectors of the economy vs. employees of the government. Other than two small dips in the number of government employees, one after WWII and one in the 80′s when Ronald Reagan was president, it’s been an upward trajectory over the last century. Now we’re at the point where there are more government employees than private productive employees. The private employees are the ones keeping the public employees in business. And it isn’t just the government employees’ salaries we have to worry about. Think about the exorbitantly generous pensions and other benefits those employees receive. How long can we keep this up?
I think the Republicans have yet one more issue to run on in 2010 and 2012.
Is it any wonder government employees have such a rosy outlook on the economy? They may want to think twice, because this looks like the mother of all bubbles.
Via memeorandum
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