Friday, June 25, 2010

You should read this article in Time about the dire state of state and local government finances. It hits close to home, though El Paso, and Texas, too, have been fortunate to escape the worst of it. This paragraph is a bit tangential to the topic but I read it and thought, that is so true: "But the long recession has cast a glaring light on the fact that public and private workers increasingly live in separate economies. Private-sector employees face frequent job turnover, relentless downsizing, stagnant wages and rising health-insurance premiums. They fund their own retirement through 401(k)s and similar plans, which rise and fall with the tides of the economy. Many public-sector workers, by contrast, enjoy relative job security, and the number of government jobs rose even as the overall unemployment rate shot just past 10%."

No comments: