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Friday, August 12, 2011

Economic Journal Article #2

The following was my second economic journal article. It was written for ECO 202 - Macroeconomics at Dutchess Community College for Professor Noreen Van Valkenburgh. It has been published here with her permission now that the summer term is over.

Article: 2011 White House Salaries are Released
Source: St. Petersburg (FL) Times
Date: Saturday, July 2, 2011

The 2011 White House Salary figures were released today. There are 454 employees, as opposed to 467 last year, and they make $37.1 million as opposed to $38.8 million last year. The article also listed specific numbers for certain employees.

My opinion:

This is good. Let's hope other government departments on a local, state, and federal level make significant, or greater, spending cuts. There is a lot of wasteful government spending on useless departments at all levels. However, I hope that when making cuts, the government will cut these useless areas and not cost teachers or emergency workers their jobs. However, this seems unlikely since most of the useless workers and departments got where they are because of special interests (aka campaign donations and/or endorsements) to the government. So, when the government is called upon to make cuts, they will cut more important areas like education or police, thus saving less money and hurting society more than they would have if they had cut useless employees and departments. I like what the White House is doing. Without seeing a complete list of employees, I cannot identify any more positions (if any) that they should have cut. However, I hope that other areas of government will follow suit and make significant cuts as well. That is, more significant than this, because with our government debt around $14 trillion, we need to make a lot more cuts than this. Of course, however, this could vary by department, so I can't say for sure that the White House didn't do all they could to cut their own employees.

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