Friday Lightning Round: Federal bonus debate
Should the government discontinue all bonuses to federal employees?
- Duration 6:34
- Date May 18, 2012
Should the government discontinue all bonuses to federal employees?
Also in this playlist...
This transcript is automatically generated
Every week viewers vote for your choice online in our Friday lightning round poll and this week.
Federal bonuses 160% of you voted for that so let's talk about it with our panel.
Eighty what do you think -- we're talking about more than 400 million dollars in federal bonuses last year OK not okay.
I think I'm finding is more difficult than the usual Friday when he -- sports questions that -- but -- -- gonna say that I think what this is a tricky issue it's hard for the federal government obviously to -- the private sector for handing out bonuses.
When they're going and spending taxpayer dollars on the same the percentage of bonuses that they give out.
In the -- out annually on average the last couple years compared to the private sector is literally nothing.
There -- pay freezes taking place is always another one around the corner and I I I know -- reasoning on this and it's a teacher and -- -- just talking a lot about bonuses in -- in the private world saying they're just outrageous out of control well yet.
The difference in the private sector the public sector of course is that those bonds has come from us their taxpayer money I mean it's not.
This is not money that's that these that federal workers are entitled to number one and number two we're talking about a commitment -- fifteen point six trillion dollars in debt or running deficits of more than one point three trillion dollars.
Every single year and we're paying bonuses to federal workers who already have a pay scale.
That's much higher than what they would be getting -- equivalent work in the private sector it's completely absurd I can't even believe anybody would -- thing.
That's how these are people who are under pay -- two years in a row now also mean the bonuses or may mean there one way to make up for some cost of living increase since the end.
I find it hard to get excited over the perhaps it's because it's in the end of the week and I've been excited about a lot of stuff.
So I could be like and I probably spent on this but -- there's -- ground -- -- bonuses to kind of merit -- Particularly for civil servants who aren't -- sort of competitive industries look conservatives believe for example in teachers we ought to be given.
Bonuses -- married for the best teachers.
The question always is is the -- is merited or not.
It's not in principle I wouldn't be against it if it would encourage good work yes if he doesn't know so I mean I'm cynical and a lot of stuff but on this when I risked.
Think we have some good diversity there on that are -- let's talk about vice president Joseph Biden now he is out on the campaign trail.
And he's not holding back here's a little bit of what he had to -- in Youngstown Ohio earlier this week father treat as.
-- -- And we are.
Charles you get who Joseph Biden's.
I have no idea what the coach -- I mean let -- these figures are lame and I think he needs an adjustment in his medications.
This makes no sense whatsoever.
He says -- What rich person what any person.
I said the middle class doesn't have any dreams -- not have any dreams and denies it I have no idea what this is about except.
A rant against the rich and the irony of it at the beginning of the -- he started by saying he's he's out there to refute.
They charge -- -- you know the Democrats are resentful and these class warriors and then he says I resented the rich.
As a way of refuting that how much or even knows -- he -- -- -- does he -- pressure does he present accusation of class warfare look I'm not really can weekends I'm Joseph -- had that I would say this I think it just.
I think it depends on the day of brass who questioned -- -- he's an effective campaign for the president's reelection.
Yesterday he gave a Cogent description.
Of the goals behind private equity firms which are to create wealth.
For their shareholders and return on their investment is not to create jobs -- -- Connelly it's mainly.
And they did a good job on Wednesday -- was through the toughest ones and other -- don't get us.
I don't think that's gonna turn on independent voters I thought that was a big mistake I literally think it depends on the joke by -- -- -- yet but we don't think he's more com.
He did it but who okay what gets the coverage I -- people haven't been talking all week about his -- in case on private equity they've been talking about.
The fact that he was screaming and sounded you know like he was having difficulty I -- for -- -- This is a guy who's one heart beat away from the presidency literally as you might say himself.
Bill Kristol in the forthcoming weekly standard has an editorial in which he suggests.
That any rational look at this would conclude with Hillary Clinton replacing Joseph Biden.
On the ticket I'm not sure why bills making this this argument to the president but it's one that might be considered.
OK speaking of rich people.
Today FaceBook went public Charles what do you make of the high -- And ninety think it will continue to hold on in the we RD CGM pulling ads from FaceBook saying it wasn't really -- -- for us.
Is it good -- for those who got in today.
Well if I knew I'd be -- yeah.
I'd be in there and being on the IPO I don't know I mean these.
You look at the smaller companies and one of the companies he bought a few weeks ago for a billion dollars that has like eighteen employees to retain employees.
No revenue so this is extremely speculative but you create something on the net with a buzz.
It was a huge following.
And you expected -- to find a way to monetize it.
FaceBook and does.
To some extent from what I hear from experts the violation is about four times as high as it ought to be given the revenue streams now but -- think government revenue streams.
But it's just an incredible story about.
Mean those who are concerned about American decline and have a government -- and -- XY MC.
To secure in the dual -- creates the most extraordinary company in a decade and that's what's been happening with the United States.
Create enterprises on their own and that's how you do well -- it's an obvious story and you'll run that we're actually arguing over in our politics which is surprising to.
-- the American dream.
Yes I mean it's a it's a wonderful story that as young as -- as the company is on the effort is as as.
Seasons there are lobbying and Washington DC -- is is really an impressive for those pay attention to this kind of thing.
It's bipartisan and it's it is full of veterans it's professional.
Really proactive they they've done what they can.
Already to sort of protect the company against new -- privacy curbs but they're also making sure that they're in position in this town.
To protect themselves against anything -- two of their best expand their brand it's very impressive.
Right that is it for the.