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Brian M

I totally agree with you on the health care and DOD. These are both basically giant jobs programs. Any kind of meaningful cut in either health care costs or defense spending is going to cost a lot of jobs. Therefore, don't hold your breath.

I am inclined to disagree with regards to Finance and Insurance. Not that these industries are any less fraudulent. It's just that I don't think they add much in the way of jobs, per se. In fact, the BEA data shows that essentially no jobs (full-time equivalent employment) were added by these industries between 2002 and 2009. I think what they do do is transfer and concentrate wealth without actually adding any tangible, useful, productive value to the society. You could argue that these entire industries have more risk than benefit, that their very existence is fraudulent and, therefore, that any employment in those industries is also fraudulent. But, for all their money and power, they aren't _adding_ much in the way of jobs.

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