Lost in all of the news about the economy, joblessness, deficits, taxes, health care, etc., is the giant elephant in the room, which I will call the "public employment bubble." This bubble has inflated slowly and subtly, not unlike the housing bubble that we saw burst a couple of years ago and is a product of the same government inefficiency, overreach, corruption and ignorance. History is in the process of repeating itself due to our elected representatives not recognizing the problem and/or not moving to correct the problem soon enough, which is happening right now at every level. The move...