What does government produce? Does anybody know? What products do they make and sell in the market place? The answer is nothing. Knowing that the government doesn’t produce anything, how does that make you feel that last month 431,000 jobs were created, and only 41,000 of those jobs were private sector. Only 41,000 of those jobs will produce anything. 390,000 of those jobs will be paid by the taxes collected from the ever shrinking private sector. Does that concern you? It concerns me greatly. While private sector payrolls have shrank government spending has increased. Taxes collected is going down, spending is going up. Does anybody else see a problem with this? We are on a unsustainable course. GM was too big to fail so the government bailed them out. What some people don’t realize foreign countries have been bailing out the US Government for years by lending us money. There is nowhere else to go if we don’t start fixing this ourselves.
Gov’t makes a bunch of jobs: http://www.nytimes.com/2010/06/05/business/economy/05jobs.html
Private sector income shrinks: http://www.usatoday.com/money/economy/income/2010-05-24-income-shifts-from-private-sector_N.htm
Who owns our debt: http://www.treas.gov/tic/mfh.txt