It seems that DC has undergone a 10 year economic boom. That said, if Congressmen are now mostly living in their districts, should that put them more in touch with the people than out? Getting a drink or dinner builds trust in all industries and cultures, amazingly effective.
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Replying to @Molson_Hart
Agencies not Congressmen. Fed employee salaries have increased the gap between their salary and median incomes in their fields. They live in rich cities. Their kids go to elite public schools. Hard for the DOE to understand resurgent mfg skills opportunity in that setting.
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Replying to @rwsscott
Federal agency regulatory employees are now making good money?
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Replying to @Molson_Hart
Yes. They are out paid at every level vs private sector, save the most-educated. And that last group is skewed for a number of reasons. Could do a whole thread on that. From the CBO: https://www.cbo.gov/publication/52637&ved=2ahUKEwjqgoXv7PHlAhVfHjQIHR7yC4QQFjAAegQIAxAB&usg=AOvVaw2E78eBZjcsoIgiFJA69SHI …
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Replying to @rwsscott @Molson_Hart
Why the most-educated Fed Employees aren't underpaid as they claim. A thread: 1) Fed jobs are significantly over-graded on the GS scale. A phenomenon the Feds own HR and IG offices have noted back to the 70s. Over-grading increases pay and requires higher education.
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Replying to @rwsscott @Molson_Hart
Feds reimburse education, too so it's affordable to inflate credentials to match an inflated job role. 2) Feds have more bloat. Those 350 contract review lawyers your multinational has that are relatively low paid for their field - the Fed has 35,000. Leads to incomparable pools
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Replying to @rwsscott @Molson_Hart
3) The GS scale provides a lower upper limit of reimbursement than the private sector. An enormously talented fed will never be paid stock options and million dollar salaries by the fed govnt. And this point is the big one. So it gets several tweets.
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Replying to @rwsscott @Molson_Hart
They will never be paid that by the govnt. So it's not included in govnt compensation comparisons. They ARE paid those figures by the private sector, if they leave govnt though. And I'd argue Fed employees have the opportunity to get such lucrative positions in greater numbers
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Replying to @rwsscott @Molson_Hart
Senior Mil and FBI leaders become security consultants. Agency experts go to law or lobbying firms. Technical, engineers, and regulators to engineering firms. Defense to contractors. Etc. This tips the scales both ways. Making private sector look higher paying and govnt lower.
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Replying to @rwsscott @Molson_Hart
And 4) the other big one - govnt retirements continue to detach from economics. Worse at the state and local lvl. But still true for Feds. Huge retirements and at young enough ages to collect the corp benefits above. And inflated by strategic pre-retirement promotions.
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Replying to @Molson_Hart
Thanks! This is one of those topics where economics and self interest lead us to argue things we can see with our own eyes.
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Replying to @rwsscott
Yes, you made a few nice simple breakdowns that were at the same time novel to me.
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