What Cliff? Obama Ordes Federal Pay Raise

Dec. 30, 2012 11:18 AM ET
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I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for a large bank. I have an MBA from the University of Chicago, with a concentration in accounting and finance. Currently I co-manage a precious metals and mining stock investment fund in Denver. My goal is to help people understand and analyze what is really going on in our financial system and economy.

According to disclosure forms, Biden made a cool $225,521 last year. After the pay increase, he'll now make $231,900 per year. (link below)

While most of us watch in complete disgust as our leaders in Government grandstand and play politics before inevitably kicking the can down the road on meaningful fiscal reform, Obama signed an Executive Order this weekend mandating nice pay raises for all Federal employees. Think about that the next time you are in a Government office waiting for some moron to finish up his/her personal phone call before to do their job and help you: Obama Orders Federal Pay Hikes

I suggested about a month ago that the "Cliff" issue would be settled and that spending and debt borrowing would continue to increase at an accelerating pace. Next up, either a large increase in, or total elimination of, the debt limit ceiling.

To hear some Truth about this whole situation, take the time to listen to what outgoing Congressman, Ron Paul had to say on CNBC on Friday:

Ron Paul On "The Cliff"

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