FOX News Finally Catching up to MCT on True Cost Of Government Jobs

Read this today (January 8th, 2013) @ FOX News:

Since 1970, America’s public sector has exploded as a percentage of GDP, rising to almost 25% last year. While the national unemployment rate hovers at the 8% mark, government worker unemployment rate is a cozy 3.8%. Sixteen percent of America’s workforce now work for government. By the time the Obama administration ends, we won’t be that far away from Argentina’s 21 percent.

Yet as an economic and social enterprise, government creates nothing.

Sound surprisingly like this from this MCT Post March 23rd, 2011:

This unsustainable employment unbalance between public and private sector employment is a direct result of Detroit putting government front and center in its economy much like what Washington is doing today. Nearly half of the people working at Detroit’s top 20 twenty employers do not contribute anything to its economy (government, including education, is an expense) and in fact subtract from the economy.

And many times since:

As pointed out previously at MCT, government jobs are overhead that the private sector subsidizes. They contribute very little to the economy in the form of adding value.

Just wanted to point this out…

Comments
  • Jim at Conservatives on Fire January 8, 2013 at 12:11 pm

    So, let’s all go to work for the government and just print money. Gee. this economics stuff is easy.

    • steve January 8, 2013 at 5:40 pm

      You have a future as a Democrat!

  • becky January 10, 2013 at 2:21 am

    Everything government gets involved in is subsidized by the private economy too. Health care is an example. It hasnt been in the competitive market for years. Cash for clunkers was a net negative in every way they intended it to be a success : economically and environmentally.

    • steve January 10, 2013 at 6:05 am

      Exactly.

      Another effect of the government has in the economy when it subsidizes activities such as healthcare (as you mentioned) or higher education, it tends to make them much more expensive.

      Thanks for stopping by and the comment!