NY Times Refuted-AGAIN!!
Public Workers Face New Rash of Layoffs, Hurting Recovery
Laura Pedrick for The New York Times
“Companies have been slowly adding workers for more than two years. But pink slips are still going out in a crucial area: government. “
Ken responds- Ms. Pedrick goes on to state that government cuts are hurting the economy. Clearly Laura is ignorant of REAL economic principles, but I suppose given that she writes for the same paper as the supreme economic charlatan, Paul Krugman, that is hardly surprising. She misses completely that the GOOD news is that public sector employment is shrinking, while at the same time, private sector employment is growing. If anything, there is a POSITIVE, not a NEGATIVE relationship between shrinking the size of government and economic recovery, both in terms of logic and by way of the evidence that she herself provides.
There headline is CLEARLY a lie. How can they point to the rise in private sector employment the last 2 yrs, then state that cuts in government are stalling the recovery? They report the facts, but get cause and effect reversed. CUTTING MORE government workers will surely mean MORE private sector employment, as we will keep more of our own money and save, invest, spend in areas that produce wealth. Government spending, on the other hand, DESTROYS wealth even as it detracts from private sector employment. Simple logic dictates that when government has more, the people have less.
Deficit spending you say? The entire history of the Keynesian approach shows that once politicians get used to spending money they do not have, most often to buy votes, it is hard to wean them from it. Moreover, accumulating debt simply means that while we consume more than what we produce today, at some point in the future, we must consume less than we produce in order to pay for it. Do not believe reducing the size and cost of government will work? Clearly, what this and the previous administration have done is not working. Let us try my solution, and see if it works.
“Men and nations only act wisely after exhausting all other possibilities.” Winston Churchhill.