Declining civilian incomes are spreading to government employees.
Monday, August 31, 2009 at 01:59PM
Skeptic in Economics, Middle Class

When the people who provide your revenue, whether customers or taxpayers, have shrinking incomes a decline in your income too is probably unavoidable.  President Obama announced today that instead of federal employees getting a statutory formula pay increase of 18.9% worth $22.6 billion next year, they will get only 2.0% worth $2.7 billlion. In California, most State employees are taking year-long mandatory unpaid 3-days-per-month furloughs, which reduces their incomes by 15%.

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