Pelosi Backs Govt. Workers Over Us

John Seiler:

Federal government workers, incredibly, make on average twice what we tax-slaves make in the private sector. Reported USA Today:

“At a time when workers’ pay and benefits have stagnated, federal employees’ average compensation has grown to more than double what private sector workers earn, a USA TODAY analysis finds.

“Federal workers have been awarded bigger average pay and benefit increases than private employees for nine years in a row. The compensation gap between federal and private workers has doubled in the past decade.

“Federal civil servants earned average pay and benefits of $123,049 in 2009 while private workers made $61,051 in total compensation, according to the Bureau of Economic Analysis. The data are the latest available.

“The federal compensation advantage has grown from $30,415 in 2000 to $61,998 last year.”

Yet these federal fat cats are whining that they might have to pay a little more into their pensions, instead of sticking the tab — really, a future debt — to taxpayer-slaves.

Guess whose side House Democratic Leader Nancy Pelosi of San Francisco is on? Of course, she’s on the of the fat cats and against the common people of Frisco, California and America.

Reported the Daily Caller:

“House Minority Leader Nancy  Pelosi told The Daily Caller that federal employees should not have to ‘carry an undue burden’ by paying more into their pensions to fund legislation  that would extend the payroll tax cut and unemployment insurance for a full  year….

“Congressional negotiators had reportedly considered requiring all federal employees to  contribute an additional 1.5 percent into their pensions to partially pay for a  package that would extend the payroll tax cut and unemployment benefits. At this  point, they have agreed to require only new federal employees to put an  additional 2.3 percent of their salaries toward pensions.”

Pelosi = The 1 Percent

Pelosi’s problem is that she’s an elitist. Her personal wealth puts her not just in the “1 percent” of wealthy Americans, but way higher.

As CBS’ “60 Minutes” reported last November, Pelosi was one of the crony congresspersons who took advantage of loopholes in ethics laws to profit from initial public offerings (IPOs) of stocks:

“And former House Speaker Nancy Pelosi and her husband have participated in at least eight IPOs. One of those came in 2008, from Visa, just as a troublesome piece of legislation that would have hurt credit card companies, began making its way through the House. Undisturbed by a potential conflict of interest the Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64. The credit card legislation never made it to the floor of the House.”

Let’s do the math. In two days, she made $20 on 5,000 shares. That’s $100,000.

Put another way, it’s $50,000 a day. Multiply that by 366 days in 2008, and that comes to $3,250,000 a year.

Pelosi’s real “constituency” is the fat goverment workers whose double-America wages and pensions she bloated and now defends, the high-dollar liberal elite of San Francisco, fellow mega-wealthy congress persons and extremely wealthy lobbyists.

Our public servant!

Feb. 21, 2012

Tags assigned to this article:
IPOsJohn SeilerNancy PelosipensionsSan Francisco

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