US112 - Government Hiring Cushions Unemployment
Government should hire when it has sufficiently productive things for people to do given labor costs. When people are unemployed or underemployed, government will find more people interested in government work at lower wages. They should naturally hire and this hiring should cushion recessions, allowing for alternating surges of private and public work.
We haven't had any increase in federal hiring under Obama, and we should. The number of employees in his administration is well less than 3 million, less than it ever was from 1967-1996, despite the increase in size in our population and economy. The federal government should take this opportunity -- millions of workers at the ready and lowest ever borrowing costs -- to make big enhancements to regulatory capabilities, infrastructure, and research & development.
What do you think?
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