A Confused and Foolish Government in Washington

America has never suffered under a blatantly anti-business government before. Jimmy Carter and his wage and price controls was destructive toward markets, but his anti-business bias was at least well concealed behind a facade of toothy grins and "good ole boy" mannerisms. Obama makes no attempt to hide his contempt of markets, of US Constitutional protections from overbearing government, of traditional US allies...The Pelosi Congress is a perfect match for the anti-market bigotry of the Obama executive. And the results in the economy reflect the ugly bias in Washington.

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.

More segments from Steve Wynn interview

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