Sunday, November 21, 2010

what recession?

while the nation is lingering around 10% unemployment and families are cutting back in order to make ends meet, "The number of federal workers earning $150,000 or more a year has soared tenfold in the past five years." in fact, "Federal workers earning $150,000 or more make up 3.9% of the workforce, up from 0.4% in 2005."






















on a similar note, a recent analysis of the net worth of congress found that we now have approximately 237 millionaires in congress or 44% of our representatives compared to 1% of all americans. despite a yearly salary of $174,000, the average senator has a net worth of $1.7 million and the average representative has a net worth of $622,000. and while some in congress saw their net worths drop in recent years due to the economic downturn, others actually profited from investments in companies that received federal bailouts.

so what should happen from here? well the white house is proposing a 1.4% pay raise for all federal employees in the next budget.

why not?

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