The result was that in roughly 18 months, the country was out of this economic nightmare. Unemployment fell to 6% in 1922 and to 2.3% by 1923. The country was able to trim their debt by 1/3rd. In short, it kicked off the roaring twenties where many average Americans enjoyed unprecedented quality living highlighted by buying their first car, radio, and telephones.
Here is an absolute first rate commentary by Daniel Borenstein dissecting the myth that public employees are compensated less than private sector folks. Included in this article is an amazing 100+ page study that should serve as a reference for many debates to come when having this discussion. Borenstein’s article: http://bit.ly/mdCIFO Full study: http://www.docstoc.com/docs/78892940/pensionstudy
If ever a group assembled under a more inaccurate name, I’d be interested to see it. The “Middle Class Taxpayers Association” isn’t a new voice for responsible stewardship of our tax dollars. It’s a front group shilling for the San Diego Labor Council. The Labor Council doesn’t even try to hide its involvement. It seems silly to use this name, but I suppose there are people or news media who might confuse it with a real taxpayers advocacy group.
Thus the proposed cuts would equate to an individual with a credit card debt of one thousand dollars, reducing their spending by 51 cents.
“People should be judged by the content of their character, not their color of their skin.” His message was simple, righteous, and most importantly, true. Yet he continually struggled with people trying to portray his message and his intentions as something different than what they were. Sound familiar?
While it’s doubtful that the Mayor will resign in the face of all of the latest developments, it should be pointed out the last time Richard called out for a mayor to resign, it happened two weeks later! Here’s hoping.