Monday, June 18, 2012

Mickey Kaus Takes Down Obama Propogandist

Ezra Klein preaches to the choir. But what if you're not in the choir?
Ezra Klein posts a graph of modestly declining public sector employment that “says it all,” according to some. Maybe not! 1) First, as Keith Hennessey points out, while the graph shows a decline in public sector employment, at the federal level (outside the Post Office) public sector jobs have grown since Obama took office. The loss has been in state and local governments, whose workforces has been steadily bloating since around 1980. 2) And even that loss of public jobs pales besides the loss of private jobs (by a ratio of 11 to 1). 3) More important, there’s the issue of causality: the chart seems to show public jobs declining, unlike in other recessions. But is that because this recession has been more stubborn and persistent than previous recessions (as Paul Krugman, in other contexts, insists that he predicted)? In those prior recessions, when growth rapidly recovered, so did tax revenues–and the ability to employ government workers!


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