I’m worried about my own prediction, because I really believed all along that it was true that the reelection of President Obama would lead to a worldwide depression. If the President listens to reason and is responsible about tackling all our fiscal problems, the things I said on this website about the debacle may be avoided.
We simply can’t keep spending 40¢ on the dollar to borrow money. We cannot have a “kicking-down-the-road” kind of solution. The federal government must be examined from top to bottom to cut duplication and waste. Salaries (taking pensions and medical benefits into consideration) ought to be lower than comparable private industry levels. Employees who must be laid off must be treated kindly, with optional occupational interest tests, aptitude tests and outplacement services, including counseling in self-employment, with these services provided by private sector contractors. I personally went through a reduction in force and found a job in another federal agency. That avenue also would be open as a possibility for employees in the private sector who go through a reduction in force.