Posted originally on Dec 28, 2023 By Martin Armstrong
President Biden has signed an executive order to implement a 5.2% pay raise for civilian federal workers in 2024, which is the largest pay increase for the federal workforce in over 40 years. This raise includes a 4.7% across-the-board boost to basic pay and an average 0.5% increase in locality pay.
Military service personnel are also expected to receive the same average pay raise, which will not be enough to fix the extremely low recruitment figures. The pay raise will go into effect for the first full pay period of 2024, which for most federal employees begins on January 14. The Office of Personnel Management will publish pay tables outlining the pay raise across all General Schedule pay grades and locality pay areas.
The inflation created by his administration outpaces wages and the cost of living. Now remember that Biden has expanded the government in recent years. Everyone receives a pension, but the funding is simply not there. Government employees have the defined-benefit (DB) while we get the defined contribution (DC) plan. Most state and local government employees, around 87% of those working full-time, participate in a defined benefit (DB) pension plan. They contribute NOTHING but are guaranteed a pension on top of what they earn, plus free healthcare for life.
The vast majority of those in government have not had to save. They will demand a payment when the time comes due. We are to be taxed until we die; upon death, they want what is left.
When the government of ancient Rome could no longer afford to pay the army, the army began sacking Roman cities that opposed their general. They turned inward and cannibalized their own cities, weakening the entire empire, thereby allowing the Barbarians to come through the gates. We have followed the very same mistakes as Rome. This is just how empires always end. We are no different.
Centinel2012 