Wednesday, March 10, 2010

This is not a stimulus multiplier

Says John Peterson:
The level of annual contributions from employees and employers is now around $110 billion; benefit payments to retirees is $175 billion. More than 19 million workers and 8 million retirees belong to the public systems. And the number of retirees is growing five times faster than the number of working members, according to the U.S. Census Bureau.
Somebody has t explain how a stimulus multiplier works when the main benefit is unsustainable government employment.

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