Apparently, the liberal regime in Washington, D.C. — the one waging war on the American economy — is not getting the message, either from the public nor from common sense economics: You can't balance the budget when the government unconsciously borrows and prints money with no end in sight. It's not how healthy economies are created. It's how economic turmoil and chaos are created. Still, despite the misrepresentation by the administration about an "economic recovery" and job growth, the fact is, most new job creation over the last few months comes from new hiring by the federal government! The source is none other than Gallup's Job Creation Index:
Gallup's Job Creation Index clearly indicates that state and local governments are in the midst of significant downsizing, no doubt reflecting budgetary issues resulting from recessionary pressures on the tax (and other) revenue that funds these governments.
Hiring at the federal level has apparently to date escaped these same fiscal pressures. Indeed, the federal government appears to be significantly outpacing the private sector in terms of the relative number of jobs created.
This when the federal government is running annual deficit the size of many countries' entire economic output, estimated at an inconceivable $1.3 trillion this year (Wall Street Journal). For a president whose supporters claim is the smartest man alive, not spending more than you take in doesn't seem to be a hard concept to comprehend. The states are doing so. But, in the Age of Obama, we'll all end up working for the government — doctors, automobile manufacturers, insurance agents, bankers. If you don't have a government job yet, be patient. Your time is coming.