Life In The Oink Sector Revisited

“Life In The Oink Sector” detailed the cost to the private economy of the ever-growing public sector, likening the public-private sector relationship to that of “parasite vs. host. The first is sucking the lifeblood of the second. The larger the parasite gets, the weaker the host will grow.”

Now John Stossel takes on the public sector “bankrupting America”:

“NY Transit Union boss, John Samuelsen argues, we are the richest country in the world and can afford it. Really?

Here are some of the facts;

Public pensions have unfunded liability of $1 trillion [1] to $3.5 trillion [2]

Federal workers take home twice pay and benefits [3] as private workers. Local and state workers also make more [4].

Total Pay Benefits

Private $59,909 $50,028 $9,881

Local/state $67,812 $52,051 $15,761

Federal $119,982 $79,197 $40,785

— Average TWU union worker makes $60K without overtime or benefits.

— 25% took 15 or more sick days. Average was 8 sick days.

— Fox average 3 sick days (same for men and women)

— No FOX employee took 15 days

Relative Danger of Jobs (Deaths per 100,000 workers)

— Fishing 128.9

–Logging 115.7

–Iron workers 46.4

–Farmers 39.5

–Firemen 3.8

–Transit workers 1.4

(Source: Bureau of Labor Statistics, except Transit worker death, that is from interview with TWU Local100 President)

Some people argue that there’s no alternative to the government monopoly on municipal work, but Sandy Springs, Georgia, privatized most of it’s jobs in 2005. Now the city pays about ½ of what it used to pay. It enjoys a $14 million surplus, in addition to funding a $20 million reserve.”

[SNIP]

Incidentally, the most dangerous job—even more hazardous than fishing—is farming in South Africa. The mortality rate (due to murder) among Boers stands at 300 per 100,000.

It’s in my upcoming book (now lingering with the publisher).