In response to:

Are Austerity, Shrinking Wages, and Firing of Public Workers Bad Things?

Michael2944 Wrote: Dec 07, 2012 11:29 PM
Note that typically, the best buy-out offer for taking an early retirement is limited, by law, to $25K. A Federal worker at GS-12 or higher can make that amount of money by not retiring and working 3 additional months. In reality - when buy-outs are being proposed, many workers will hang in there for the added time for the buyouts to become law...and then they take it; without buyout offers, they might have retired earlier.

The socialists and the Keynesians would have you believe that austerity is a bad thing, and that firing government workers when unemployment is already high is the wrong thing to do.

Anyone believing those myths needs to consider Euro Countries (and the IMF) Can Learn from Latvia’s Economic Success.

In 2008–09, Latvia lost 24 percent of its GDP. It was heading toward a budget deficit of 19 percent of GDP in 2009 without a program...