Years of big spending by politicians at all levels have left the nation vulnerable to economic turmoil. While at the federal level this is masked to a degree by manipulation and inflation of the money supply, among other factors, local and state governments have no such luxury, and many are struggling to find ways to pay increasingly high expenses. Increasingly, the onus is falling on taxpayers in the form of increased and burdensome taxes, and on public-sector employees who face reductions in benefits, and possibly layoffs.

looking for workIn a microcosm, Scott Nicholson, at age 24, represents his Millennial Generation well: He graduated from college two years ago and is still looking for work.

Policeman FiremanPublic-employee labor unions have long been an unchecked tap upon the public treasury.  Sometimes these unions have an aura of moral purpose, like police and firefighters' unions. Others work in hospitals or teach in schools, positions that have historically been viewed sympathetically by many Americans. Other unions, like garbage collectors and water-line workers, could cause immediate and serious harm to the public, if they went on strike.

The Gulf oil spill has caused serious economic problems. Fisherman and those in the tourist industry have been hard hit by the oil spill itself. Those who work on oil rigs have been hard hit by the politically correct and utterly irrational cessation of oil drilling in the Gulf of Mexico. Tens of thousands of workers are set to lose their jobs, this in a time of high unemployment and economic downturn.

The U.S. Bureau of Labor Statistics just released its employment figures for the month of May, and they would appear to be very encouraging indeed: 431,000 new jobs were created, and the unemployment rate fell to 9.7 percent. President Obama hailed this as proof that his economic policies are succeeding, saying, “This report is a sign that our economy is getting stronger by the day.”