Stephen Moore, the senior economics writer for The Wall Street Journal editorial page, has an op-ed in the Journal today noting that almost twice as many people in the U.S. work for the government than in manufacturing, and arguing that, as a result, state and local governments are no longer able to pay their bills.
More and more people are shifting to government work, and therefore, he argues, the sector that "takes" money is growing faster than the sector that "makes" money. To expand the economy, Mr. Moore says, we need to focus on expanding the private sector.
Mr. Moore will be speaking at the Federalist Society's D.C. luncheon next week on Friday, April 8, at 12 PM, discussing "Capitalism: The Comeback." Click here for more details.