Here’s a story that is emblematic of life in Washington, D.C.: The Department of Veterans Affairs—a well-known sinkhole of mismanagement—handed out more than $142 million in bonuses last year. Taxpayers stumbling across this news might have been surprised by these rewards for bureaucratic incompetence, and perhaps they also got the sense that working for the federal government is a sweet gig. They’re right.You'll notice Comrade Bernie Sanders doesn't mention this kind of inequality. It doesn't bother Bernie one bit.
A review of the nation’s capital turns up ample evidence: In a report released last month, Cato Institute budget analyst Chris Edwards calculated that the average federal employee earned $84,153 in 2014—roughly 50% more than the average worker in the private economy. When you include benefits like health care and pensions, the average federal worker’s compensation rises to $119,934—nearly 80% higher than everyone else. “The federal government has become an elite island of secure and high-paid employment,” Mr. Edwards wrote, “separated from the ocean of average Americans competing in the economy.”
Pay for federal employees has grown significantly faster than for private employees. The percentage difference between the two has doubled in the past 25 years. Federal work is more lucrative than the average jobs in finance, information and professional fields.
Moreover, the number of federal employees salaried at more than $100,000 has grown by nearly 10% in the past five years, to more than 300,000. The 1,000 best-paid federal workers make a minimum of $216,000, with most of the highest echelon working at Veterans Affairs. Employees of little-known agencies such as the National Credit Union Administration and the Farm Credit Administration also top the list.
Friday, November 20, 2015
The Sweet Gig of Being a Bureaucrat. The average federal worker’s compensation is worth $119,934, nearly 80% higher than the average in the private economy.
The Wall Street Journal reports: