Perhaps one of the reasons that so many in government seem to be out of touch with the rest of the nation is because there really is a big disconnect – in this case, a disconnect between what they earn and what individuals in the private sector earn.
Studies have been released from time to time revealing that, especially with their lavish fringe benefits, employees of the federal government earn significantly greater pay than those in private industry doing essentially the same jobs.
We also have the spectacle of politicians who loudly protest what they consider excessive pay to corporate leaders while seeing to it that those under their direction are very well taken care of. Senator Elizabeth Warren would be one such politician. It turns out that working for the liberal senator pays very well, indeed. Even better than being speaker of the house, or attorney general as we’ve just learned.
The Consumer Financial Protection Bureau (CFPB), a creation of Senator Warren, was deliberately placed by her inside the Federal Reserve Bank so as to be exempt from regulations governing the salaries of other federal workers. With any degree of control gone, salaries have gone through the roof.
Here are some comparisons to demonstrate how out-of-control Mrs. Warren’s creature has become:
The Senate majority and minority leaders are paid $193,000 annually. Two hundred and one CFPB employees outdo Sens. Mitch McConnell and Charles Schumer in pay.
Speaker of the House Paul Ryan of Wisconsin receives $223,000 per year, but that’s less than what 54 CFPB employees are paid.
A total of 198 CFPB employees also earn more than their ultimate boss, Federal Reserve Chairwoman Janet Yellin, who is paid $201,700.
Overall, 449 CFPB employees get at least $100,000 per year and 228 CFPB are paid more than $200,000, according to publicly available 2016 data.
Keep in mind the purpose of this agency: “‘It’s ironic that the agency that is supposed to be looking out for the ‘little guy’ is actually padding the pockets of their own employees with exorbitant salaries,’ David Williams, president of the Taxpayer Protection Alliance, told TheDCNF.”
To make matters even more ridiculous, it took a court decision to give the president the power to fire the director of this agency. Until then, he was essentially unaccountable.
No doubt there are millions of hard-working, dedicated employees of the federal government. This is not meant as a blanket criticism of those who are referred to as civil servants. The issue is, that like any entity that is not motivated by the goal of maximizing profits, waste and excessive expenses tend to grow unchecked in government agencies. That this happens to salaries is no surprise.
Here’s a quick solution: Close down the entire agency. Then the hundreds of employees who make over $200,000 per year will have an opportunity to truly understand the “little guy” they have purported to be helping.
Source: Red State