Yesterday’s employment report showed another decline in government employment. But there’s a pretty amazing statistic developing during the Presidency of Barack Obama. In the post war era a US President has NEVER averaged a contraction in government employees throughout his entire term. But that’s exactly what Barack Obama is doing. At -0.7% per month, he is on pace to average a contraction in the total government workforce for his Presidency. He is the greatest government job killer in the modern economic age!
And it’s not all state and local. No, he is an equal opportunity government job killer. And with the exception of the Census hiring (which wasn’t really his decision to begin with) and a brief stint in 2009, government employment growth has been negative through his entire term.
Read Some Related Articles on Pragmatic Capitalism -
2 Bullish Macro Indicators
Sometimes it's easiest to understand the big picture with the simplest indicators. And two of the more trust ones in the macro arsenal are the PMI reports and the weekly ...read more
Q&A - Ask Me Anything
Since I am trying out the site without comments I figure the least I can do is open things up to a Q&A more often. Feel free to have at ...read more
Is Wealth and Income Inequality Inevitable in a Capitalist System?
Good question here from the forum today: "Is wealth and income inequality inevitable in a capitalist system?" I discuss this a bit in my new book, which, in my opinion, is a ...read more
This Commonly Referenced USD Purchasing Power Chart is Useless
You've almost certainly seen the chart below over the years - it shows the purchasing power of the US Dollar over time. It looks terrifying. And it's constantly cited by hyperinflationists ...read more