An interesting article appears in USA Today showing the number of Federal workers earning more than $150,000 has increased tenfold since 2005. It is the private sector that ends up paying these wages. This rate of growth in public sector compensation is unsustainable.
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|From The Blog of HORAN Capital Advisors|
The article notes:
The Defense Department had nine civilians earning $170,000 or more in 2005, 214 when Obama took office and 994 in June.
The biggest pay hikes have gone to employees who have been with the government for 15 to 24 years. Since 2005, average salaries for this group climbed 25% compared with a 9% inflation rate.
Federal workers earning $150,000 or more make up 3.9% of the workforce, up from 0.4% in 2005.