Monday, September 19, 2011

Sophisticated thinking at the New York Times

James Taranto spots the New York Times having difficulty with math:
The New York Times reports from Frankfurt that "foreign leaders" are pressuring the Greek government to institute "a range of draconian layoffs and pay reductions among public sector workers" in order to avert default. Check out this bit of analysis in the course of the story:

The original aid package requires Greece to reduce its deficit to 7.5 percent of gross domestic product this year, and below 3 percent by 2014, according to the International Monetary Fund.
The reduced number of workers employed in the public sector would only add to the difficulty of meeting these targets as payroll tax collections shrink.

Unless employees of the Greek government pay more than 100% of their wages in taxes, this cannot possibly add up.

No comments:

Clicky Web Analytics