http://www.nytimes.com/2011/12/05/opinion/pain-in-the-public-sector.html?_r=1&hp mentions job losses in the public sector, mostly in the non-federal parts. And states, that this hits the black community blocking this route to the American Middle Class dream to that community.
One wonders how this issue would have been handled in emerging/developing countries? By simply printing more notes, maybe.
Ironical that a country with the largest international debt does not opt for deficit financing as a means to pay public sector employees payroll.
One wonders how this issue would have been handled in emerging/developing countries? By simply printing more notes, maybe.
Ironical that a country with the largest international debt does not opt for deficit financing as a means to pay public sector employees payroll.
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