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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (659363)6/21/2012 7:27:17 PM
From: TimF2 Recommendations  Read Replies (2) of 1583275
 
Lucky?

Yes Lucky. He came to office at the perfect time, in terms of the business cycle, the peace dividend, and the tech boom, and he had the Republicans take over to keep him from his worst excesses, then unlike Obama he worked with them (and they unlike the Republicans when Bush was president, stamped down on government growth and deficits).

except now. Public employment is dropping like a rock

No it isn't. Its undergoing a relatively moderate and over due cut, not dropping like a rock.

a person working spends money which creates other jobs.

Then we could insure prosperity by paying people to dig holes and paying other to fill them in right? And broken windows also create prosperity because someone pays to fix them...

Your forgetting that the money they get comes from somewhere else. In this case from the tax payers. Higher government employment or salaries equals more money taken from the taxpayer (or taken from the capital markets, and then the interest on it taken from the tax payer). Work that produces something that is useful and desired, creates wealth. Getting paid to produce nothing, or produce something useless, doesn't. Its all about whether the value produced exceeds the cost of hiring the person. If it doesn't then the economy is better off when that person doesn't have a job (esp. since then they are freed up to potentially find another job where they could do something useful).
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