Big Spending Congress is Raising the Federal Debt Ceiling to $14T and Gov't Salaries

Congress is in the process of increasing the federal debt ceiling by $1.8 trillion to $14 trillion. It’s an incomprehensible sum, and even more so at a time of already massive debts and 10 percent unemployment.

Investor’s Business Daily bristles at the move, especially in light of recent data that shows a significant rise in government employee salaries of late:

“For governmental workers, this historic recession and economic crisis has been party time. Last week, a USA Today analysis of federal government pay data found that six-figure salaries jumped from 14% of all civil servants to 19% during the first year and a half of the downturn — and that’s not counting bonuses and overtime.

“Delving into the details is even more galling. At the outset of the recession, for example, the Transportation Department had one employee salaried at $170,000 or more. Now, only 18 months later, it has 1,690. With fewer Americans driving or taking mass transit to work, what are those thousands of super talented transportation bureaucrats doing that warrant so much extra cash? Counting the empty seats on the commuter trains?”

Read the entire perspective in IBD’s coverage of how a $71,206 salary isn’t bad for government work.

The Daily Reckoning