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13 minutes ago
It's very clear that private-sector jobs have been doing just fine; it's the public-sector jobs where we've lost huge numbers, and that's what this legislation is all about.Unfortunately, the numbers do not back this up. Since 2008 when the recession began, federal government added over 250,000 new jobs, a 13.5% increase in two years. Despite the stimulus funds designed to help state and local governments, government employment deceased since 2008.
CBO says that overall outlays rose 4.2% from 2010 (1.8% adjusted for timing shifts), when spending fell slightly from 2009. Defense spending rose only 1.2% on a calendar-adjusted basis, and Medicaid only 0.9%, but Medicare spending rose 3.9% and interest payments by 16.7%.The Obama Administration continues to perpetuate the lie that many groups, including the Occupy Whatever, are buying into: that taxing the rich will go a long way to solving our fiscal problems.
Government austerity is a myth.