Yes the US government is part of the problem

Just not in the way some readers want to think. Check out the shocking graph of government employment in the middle of the worst period of financial performance since the Great Depression.

(The sharp spike has nothing to do with stimulus an everything to do with temporary census employment.)

The US Government is contributing massively to US unemployment

[I’ve been asked to include a graph on total expenditure rather than just employment. Ok then.]

Same story - real (inflation adjusted) US Government spending is down.

 

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.