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alstry (36.08)

The Insanity of Federal Wages...

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April 04, 2010 – Comments (3)

For 2008, the basic pay rate, excluding cost of living adjustments, for SES personnel ranged from $140,000 to $191,000.

GS 12s through 15s can make between 100K and 150K......

The above are some pay scales for Federal Workers.

I am visiting the DC area  this week....and listening to my friends/spouses brag about their pay raises this year and how strong the D.C. economy is doing....some are even gloating how budgets for their divisions are growing massively.

The funny part is none of them realize the current Federal Deficit exceeds the salaries of all Federal employees combined.  There is really no money to even pay their salaries.  And when you try to raise the issue, few really want to have an intelligent discussion about it.

Even more incredible is how few appreciate how poorly the private sector is faring as credit is being cut off across the nation.

It is strange times when those making $150K per year fail to realize that the money they are being paid with is simply funds being siphoned from our nations retirement accounts.

Much of the above analysis can be applied to government funded health care and Wall Street funded businesses as well.

It will be very interesting times indeed when our Pension Funds/retirement/and investment accounts no longer have the funds to fund the above salaries.

 

GS-12$ 68,809–$ 105,897GS-13$ 81,823–$ 125,926GS-14$ 96,690–$ 148,806GS-15$ 113,735–$ 155,500

3 Comments – Post Your Own

#1) On April 04, 2010 at 11:28 AM, jesusfreakinco (28.98) wrote:

Good post.  Only going to get worse.  There will be a divergence between those working for the Fed govt and those working for everyone else inlcuding the State govts.  Until... the Fed defaults.  Then we'll all be back in the same boat - broke...

JFC

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#2) On April 04, 2010 at 12:06 PM, alstry (36.08) wrote:

The problem is that it offends the very fabric of our nation and that for which our forefathers defended.

How can Federal and Wall Street workers borrow from the citizens for ostensibly free simply to pay salaries yet private citizens can't get credit or must pay much much higher rates?

The only reason our Federal Government was so strong in the past is because we had a flourishing private economy......now that the private economy is in a depression......one wonders where this may be going as receipts to government are continuing to evaporate.

From this perspective, if it is OK for the Federal Government and Wall Street to borrow from us for FREE.....Fools should have little reluctance to hand over their assets when the time necessitates such behavior.

Any Fool should have seen this coming when we bailed out Wall Street last March and not the citizens.

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#3) On April 04, 2010 at 8:25 PM, devoish (96.47) wrote:

GS 14 $96,000.

Supervisory Intelligence Analyst , GS 14 (FBI)
Additional Duty Location Info:1 vacancy - Washington DC Metro Area, DC
MAJOR DUTIES:
BackToTop();
Incumbent of this position will supervise a group of analytical
personnel, who handle complex cyber issues, programmatic, and policy
decisions in the intelligence community.Personnel supervised are
subject matter experts in the cyber counterintelligence, cyber
terrorism, and cyber crime problem that impact national security and
that are of continuing intelligence interest to FBI investigative
programs.Responsibilities include: planning and directing large
scale intelligence analysis; reviewing and approving finished
intelligence reports; evaluating the overall effectiveness of
analysis accomplished, and redirecting projects most conducive to
FBI's intelligence and investigative goals and objectives.

You can pay me half, but I still cannot do that job. But if you insist on paying someone half, and the more qualified person works for Israel blame your own management skills if the job is done poorly here. 

But I'm counting on those guys.

George Soros could fall of the face of the earth tomorrow, and I would not miss him.

Of course there is an argument to make that excessive salaries are unsustainable, especially if they don't produce anything of value.

Top Earning Fund Mangers

1.David Tepper, Appaloosa Management
Est. 2009 personal earnings: $4 billion

2. George Soros, Soros Fund Management
Est. 2009 personal earnings: $3.3 billion

3. James Simons, Renaissance Technologies
Est. 2009 personal earnings: $2.5 billion

4: John Paulson, Paulson & Company
Est. 2009 personal earnings: $2.3 billion

5: Steve Cohen, SAC Capital Advisors
Est. 2009 personal earnings: $1.4 billion

6. (tie): Carl Icahn, Icahn Capital
Est. 2009 personal earnings: $1.3 billion

6. (tie): Edward Lampert, ESL Investments
Est. 2009 personal earnings: $1.3 billion

8. (tie): Kenneth Griffin, Citadel Investment Group
Est. 2009 personal earnings: $900 million

8. (tie): John Arnold, Centaurus Advisors
Est. 2009 personal earnings: $900 million

10. Philip Falcone, Harbinger Capital Partners
Est. 2009 personal earnings: $825 million


Trying to keep some perspective.

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