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	<title>Comments on: The Lost Generation</title>
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	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: WhoKnows</title>
		<link>http://www.ritholtz.com/blog/2008/11/the-lost-generation/comment-page-1/#comment-125591</link>
		<dc:creator>WhoKnows</dc:creator>
		<pubDate>Tue, 11 Nov 2008 19:20:24 +0000</pubDate>
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		<description>Until this last year I worked as a career civil servant (20+ years). The federal government will never attract top talent because it continues to pay for lower quality volume than top producing talent.

The statement about a steady check and guaranteed benefits are true. But it is near impossible to get rid of the dead weight who are there to do nothing more than collect - a federal payroll full of employed welfare recipients.

While I hated most things about the Bush administration, they came close to making things better with the National Security Personnel System (NSPS). NSPS replaced the General Schedule pay system in most Department of Defense agencies.  However, even it missed one of the biggest personnel issues - it left professional staff (Information Technology, Lawyers, Civil Engineers, etc.) as wage employees (i.e, per-hour) instead of salaried (e.g., Pay per year).

Although Congress passed a law several years ago that federal pay was to be ajusted to keep pace with inflation, the annual federal cost of living raise has rarely exceed 2.5%. Until the federal government massively reduces in work force numbers so that it can adequately pay people who perform, it will never attract top talent. And, it will never make those reductions as long as the the grade (e.g., pay level) of a managers is solely determined by the size of the staff they &quot;manage.&quot;</description>
		<content:encoded><![CDATA[<p>Until this last year I worked as a career civil servant (20+ years). The federal government will never attract top talent because it continues to pay for lower quality volume than top producing talent.</p>
<p>The statement about a steady check and guaranteed benefits are true. But it is near impossible to get rid of the dead weight who are there to do nothing more than collect &#8211; a federal payroll full of employed welfare recipients.</p>
<p>While I hated most things about the Bush administration, they came close to making things better with the National Security Personnel System (NSPS). NSPS replaced the General Schedule pay system in most Department of Defense agencies.  However, even it missed one of the biggest personnel issues &#8211; it left professional staff (Information Technology, Lawyers, Civil Engineers, etc.) as wage employees (i.e, per-hour) instead of salaried (e.g., Pay per year).</p>
<p>Although Congress passed a law several years ago that federal pay was to be ajusted to keep pace with inflation, the annual federal cost of living raise has rarely exceed 2.5%. Until the federal government massively reduces in work force numbers so that it can adequately pay people who perform, it will never attract top talent. And, it will never make those reductions as long as the the grade (e.g., pay level) of a managers is solely determined by the size of the staff they &#8220;manage.&#8221;</p>
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		<title>By: Mike in Nola</title>
		<link>http://www.ritholtz.com/blog/2008/11/the-lost-generation/comment-page-1/#comment-125409</link>
		<dc:creator>Mike in Nola</dc:creator>
		<pubDate>Mon, 10 Nov 2008 22:36:33 +0000</pubDate>
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		<description>What is described here is similar to that described in &lt;/i&gt;Once in Golconda&lt;i&gt; after the Great Crash. 

I do hope they get some people who haven&#039;t been corrupted yet. But judging by those surrounding Obama, it is doubtful.</description>
		<content:encoded><![CDATA[<p>What is described here is similar to that described in Once in Golconda<i> after the Great Crash. </p>
<p>I do hope they get some people who haven&#8217;t been corrupted yet. But judging by those surrounding Obama, it is doubtful.</i></p>
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