Category: Economics
Would Losing A Million Government Jobs Hurt the Economy?
How many federal employees are there? There are roughly 2 million employees on the federal payroll, excluding the postal service. What would happen if we axed half of those jobs? There are those who say this would be disaster for the economy. Those employees who are let go would no longer have their money to spend on gas, cars, consumer goods, fast food, massages, etc., and so those businesses providing those goods and services would be required to downsize due to lessened demand. This would, in turn, cause other businesses to downsize, and it would send shockwaves through the … Read the rest of this entry »