Less than an hour before the inauguration of Barack Obama is scheduled to take place in the nation’s capitol, I was disturbed to discover an indicator of where the United States stands today in terms of jobs. Even more disturbing, however, is what the job picture in this country might look like soon if the man set to become the nation’s 44th president today gets his way.
At right is a chart, published last month at Contrary Investor, that I discovered this morning. It shows a red line (i.e., the number of government jobs in the U.S.) rising above a blue line (i.e., the number of manufacturing jobs in the U.S.) for the first time in modern history.
Add 600,000 government jobs — the ones Obama has said he wants to add to the already-bloated federal government payroll (see this article for details) — to the already-existing 22 million government jobs, and the disparity will only grows worse.
One thing is certain, however, manufacturers of red ink are likely to experience windfall profits for use in producing more disturbing charts like the one above.