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 [...]

WASHINGTON (AFP) – The International Monetary Fund on Thursday urged the United States to rein in its ballooning budget deficit without putting the “modest” economic recovery at risk. Amid jitters that high levels of unemployment may force a double diprecession, the IMF warned the slow US recovery would continue and that debt problems loomed. “The [...]

Check out the debt clock here:  http://www.usdebtclock.org/. That’s $117,982 for each tax payer… pony up

With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.  Recent events in Europe, where Greece and [...]

White House budget director blames old computers for ineffective government By Ian Swanson – 01/14/10 02:56 PM ET A big reason why the government is inefficient and ineffective is because Washington has outdated technology, with federal workers having better computers at home than in the office. This startling admission came Thursday from Peter Orszag, who [...]

Fantastic fuming by David Reilly, a Bloomberg reporter: I quickly discovered why members of Congress rarely read legislation like this. At 1,279 pages, the “Wall Street Reform and Consumer Protection Act” is a real slog. And yes, I plowed through all those pages. (Memo to Chairman Frank: “ystem” at line 14, page 258 is missing [...]