Government employees are compensated 44% more on average per hour than private-sector employees, with 34.1% higher monetary wages and 66.4% more in benefits. On an annual basis, government workers make almost $80,000 on average with benefits (assuming a 40-hour week for 50 weeks), $24,000 more per year thatn the average private-sector worker ($55,460 annual compensation).
And one of the biggest differences between private and public employees is the "retirement" portion of benefits. Government workers are paid $3.16 in retirement benefits for each hour worked, and almost 90% of these retirement benefits are in the form of "defined benefits" and the other 10% are for "defined contribution." In contrast, private sector employees receive only $0.96 in retirement benefits for each hour worked, and more than 57% of this coverage is for "defined contribution" and less than 43% for "defined benefits." _MJPerry
The US Federal Debt can never be repaid, and yet it is growing at an exponential rate.
Not surprisingly, leftists are found to be economically ignorant relative to libertarians and others who reject leftism.
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