President Obama said this on 60 minutes which sounds all well and good:
"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," Mr. Obama said in an interview on CBS's "60 Minutes" program on Sunday."They're still puzzled why is it that people are mad at the banks. Well, let's see," he said. "You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it's gone through in -- in decades, and you guys caused the problem. And we've got 10% unemployment."
I mean who doesn't like a good pile on to those 'fat cats' on Wall Street. But then you read this:
The number of federal workers earning six-figure salaries has exploded during the recession, according to a USA TODAY analysis of federal salary data.Federal employees making salaries of $100,000 or more jumped from 14% to 19% of civil servants during the recession's first 18 months — and that's before overtime pay and bonuses are counted.Federal workers are enjoying an extraordinary boom time — in pay and hiring — during a recession that has cost 7.3 million jobs in the private sector...The growth in six-figure salaries has pushed the average federal worker's pay to $71,206, compared with $40,331 in the private sector.
In fact, according to some of the graphs in the article: "The average federal salary has grown nearly twice as fast as private pay during the recession."
Now it would indeed be unfair to lay all the blame for this at Obama's feet. Indeed some of these changes come from the Bush years along with a change the pay scale by Congress. And yet you loose all credibility of identifying with the common man and the struggles of the average joe. In fact, one could just as easily say to the government:
"[You're] still puzzled why is it that people are mad at the [government]. Well, let's see. You guys are drawing down [insert figures] after America went through the worst economic year that it's gone through in -- in decades, and you guys caused the problem. And we've got 10% unemployment."
There has hardly been a private sector business that has not had to trim expenses, withhold raises or bonuses. These days Washington is about as far from 'Main Street' as Wall Street is.