Josh Barro, Bloomberg
On Friday President Barack Obama spoke about why the economic recovery has been so slow. People are focusing on his gaffe -- saying “the private sector is doing fine” -- and Ezra Klein admonishes us to focus on the president's substantive point, which is that job losses in the public sector have undermined the recovery overall.Unfortunately, Obama didn’t mention a major barrier to job growth in the public sector -- and neither did Ezra: unsustainable compensation structures. This problem existed before the recession, but it’s gotten worse during...
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