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Archive for October 10th, 2009

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Why Do Federal Workers Make Twice As Much As Private-Sector Workers?

Henry Blodget

An interesting detail from John Mauldin’s latest economic note:  The average federal worker makes $75,419 a year, while the average in the private sector is $39,751.

Why is that, exactly?  Is it because Federal workers are 80% better than private-sector workers?

And remind us again why, in the interest of cutting the deficit, the government shouldn’t just slash 20% of its budget across the board?

Our debt going to kill us! You can’t borrow your way to prosperity, or solve a debt problem with more debt. The U.S.’s current budget assumptions predict that we will need to borrow at least $1 trillion a year for the next 5-10 years.  $1 trillion is actually a lot of money.

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Without Stiff Sanctions, Israel Will Attack Iran

If “crippling sanctions” are not introduced by Christmas, “Israel will strike” Iran warned Ephraim Sneh, former Israeli Deputy Defense Minister in a Sunday Times interview.

Sneh told the newspaper that time is running out for Iran and that Israel will fight alone if it must.

“If we are left alone, we will act alone,” Sneh said.

Iran’s ambassador to the United Nations, Mohammad Khazaee, wrote a letter of protest to UN Secretary-General Ban Ki-moonin in response to Sneh’s remarks.

“There is no explanation for Israel’s continuing threats against Tehran,” Khazaee said.

Khazaee said that Sneh’s remarks were “irresponsible” and that he hoped the UN would take steps against such threats. 

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