"Slash The Fat:
Nine US Government Agencies To Cut By 50%"
by David Stockman
Editor Note: Bill Bonner is away today. In his stead, we present Part Two of the excerpt from David Stockman’s new book, which you can find here. David was kind enough to allow us to run what may be the most important chapter in the book. You’ll find it below. And if you like it, you have our permission to share it widely. You can also find more of David’s work at his website.
Excerpt: "As we have indicated, the 16 agencies slated for elimination do comprise a kind of Litmus Test of fiscal resolve. If these Federal bureaucrats and agencies can’t be eliminated, the prospect for reining in America’s unfolding fiscal calamity is dim indeed.
Yet the 71,000 headcount reductions and $11 billion of savings constitute hardly a nick out of the Federal payroll. In fact, on a government-wide basis including the uniformed forces, the total payroll numbers nearly 3.83 million civilian and military employees and costs nearly $600 billion per year. So the agency reductions outlined so far amount to just 1.8% of the total.
For this reason, we have identified a second layer of nine agencies where we believe the headcount could be cut by 50% and existing missions sharply curtailed. This would result in a further Federal staff reduction of 93,000 jobs and nearly $15 billion in direct compensation cost savings."
Full, lengthy and highly recommended article is here:
No comments:
Post a Comment