Obama To Freeze Government Salaries At All Time High
November 30, 2010
Submitted by Tyler Durden on 11/29/2010 10:53 -0500
In 10 minutes the teleprompter in chief will announce that he is about to freeze government salaries for two years. Of course, government workers thank him, as this means federal salaries which have exploded in the past 5 years will be stuck at all time highs for at least two years, even as nominal salaries for everyone else (except FIRE workers of course) continue to decline. As we suggested a few days ago, in order to promote some vaguely credible idea of austerity, instead of freezing salaries, Obama needs to be cutting. Why? One look at the chart below explains it all.
And here is what we said a few days back on the topic of record government worker salaries: