Yesterday’s employment report showed another decline in government employment. But there’s a pretty amazing statistic developing during the Presidency of Barack Obama. In the post war era a US President has NEVER averaged a contraction in government employees throughout his entire term. But that’s exactly what Barack Obama is doing. At -0.7% per month, he is on pace to average a contraction in the total government workforce for his Presidency. He is the greatest government job killer in the modern economic age!
And it’s not all state and local. No, he is an equal opportunity government job killer. And with the exception of the Census hiring (which wasn’t really his decision to begin with) and a brief stint in 2009, government employment growth has been negative through his entire term.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.