In 2010 Ben Bernanke was paid less than fifty Metropolitan Transit Authority (MTA) workers in New York, including one Long Island Railroad (LIRR) conductor, and less than 100 city workers in San Francisco, including a “special nurse” who at $350,000 made nearly double Bernanke’s pay. Does this make you wonder if public officials know that one of the driving forces behind America’s greatness is that we are a meritocracy? If we start doling our salaries based on appealing to special interests and without regard for long term effects isn’t that the definition of a banana republic minus an economic reliance on bananas?
I saw a survey that said more than 50% or US parents hoped their children would grow up to work for the government. Not to serve their country, but because compensation is better than the private sector. “Son, I want you to aspire to be a recreation worker for the government because you won’t have to go to college and you’ll make over forty grand. Think about it an unstressed life with great benefits. You’ll only get half that amount in the private sector.” You can’t beat the irony of the lower paid private sector workers paying the salaries and benefits for their higher paid public sector neighbors. What would happen to the US if those parental aspirations were fulfilled? We would be competing with Greece as the country known for a bloated recalcitrant public sector that shamelessly begs for money from its neighbors to pay its debts. What happened to parents hoping that their children would be the next Bill Gates or Tom Watson? Entrepreneurs who worked hard and took risks and ended up creating thousands of private sector tax paying rather than tax consuming jobs.
What are we to make of the President’s announced decision to trade approving unemployment benefits for another forty weeks in exchange for extending the Bush tax cuts? What would the founding fathers think of political leaders who view their job as horse trading that inevitably results in a minority of winners but the nation losing? Isn’t the President supposed to be able to reach across the aisle and develop solutions that integrate the best ideas of both parties, so that our politicians can do the job they were hired for: to raise the standard of living of every American because right now they are falling.
Our country is in a situation where we have already taken on a debt load that future generations will have to pay for. Since when do American’s pass on their debts to their children? Isn’t that a form of taxation without representation? It is UnAmerican. How will passing on this debt affect the standard of living of Americans moving forward? It will lower it further. More irony. Future generations will pay our debts in exchange for a lower standard of living.
Thomas Jefferson said: “We are bound to defray expenses within our own time, and are unauthorized to burden posterity with them…. We shall all consider ourselves morally bound to pay them ourselves and consequently within the life [expectancy] of the majority.”
Are our politicians so out of touch with the problems this country is facing that the next thing we will hear is; “Let them eat cake.” (1)
Should they be that out of touch with how to repair the nation’s ills remember another quote from Thomas Jefferson. This one is in the Declaration of Independence, “When a long train of abuses and usurpations [occur]…it is their [the people’s} right, it is their duty, to throw off such government, and to provide new guards for their future security.”
(1) A ruler who was so out of touch with her people when told that the citizens had no bread and were starving supposedly said let them eat cake.