Fund Your Utopia Without Me.™

02 March 2013

Feeling Poorer? You Should. Everyone In Washington Is Getting Richer.

Nancy Pelosi a/k/a Maerose Prizzi is worth $35 million

 Government workers, their special interests and corporate cronies get richer while taxpayers get poorer.

According to, "Americans saw their income drop so dramatically in January that it marked the deepest one-month decline in 20 years. 

Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That's the most dramatic decline since January 1993, according to the Commerce Department.

Disposable income, or the money left over after taxes, dropped 4 percent after adjusting for inflation, the biggest plunge since monthly records began in 1959. The drop also reflected the lapse of the payroll tax holiday. Excluding the effect of the tax and other special factors such as the timing of bonuses and dividends, disposable personal income would have increased 0.3 percent in January, the same as in December, the report said.

The Commerce Department estimated the January level of wages was reduced by about $15 billion and the saving rate dropped to 2.4 percent from 6.4 percent.

Obamanomics is GREAT! 

From Bryan Preston:

On January 1 your payroll taxes went up a couple of percentage points. That caused household income to drop like a stone, the sharpest drop in 20 years. Income dropped 3.6 percent, hitting its lowest level in more than five years.

By the way, gas prices are inching back up too.

The average American family’s income is going backwards, while the federal government continues to grow and grow and grow.

During Obama’s first two years in office, while the unemployment passed 10%, the size of the federal workforce increased by 7%.

— Mark Hemingway (@Heminator) March 1, 2013

From December 2007 to June 2009, the federal workforce saw a 119 percent increase in the number of those making over $150,000.

— Mark Hemingway (@Heminator) March 1, 2013


From December 2007 to June 2009, the federal workforce saw a 46 percent increase in the number of employees with salaries over $100,000

— Mark Hemingway (@Heminator) March 1, 2013

Seven of the 10 richest counties in America now surround DC. There are about 1.5 million federal workers here. Coincidence?

— Mark Hemingway (@Heminator) March 1, 2013

Yet, as congressional leaders and the president meet at the White House today, President Obama will badger Republicans for even more tax increases as part of a deal to avoid the sequestration cuts in the rate of the growth of government spending. Tax hikes were not part of the original sequestration deal — that’s the  “moving the goal posts” that Obama aide Gene Sperling warned Bob Woodward he would regret reporting. Obama will fight for every penny of federal spending, casting any cut as draconian and extreme. And members of the media will do their best to provide cover for Obama, agreeing with him that any cuts in the rate of growth of spending are “extreme” and the Republicans are being unreasonable.

The bottom line today is that your income probably went down. Why shouldn’t federal government bureaucrats feel the same pinch the rest of us are feeling? 

Happy Sequester Day!

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