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Bush's Stimulus package was a failure, I agree. We need a stimulus package that cuts taxes... not pumps green paper into the economy.
Ding Ding Ding!!!!!!!!
Woo Hoo, we have a winner.
The solution is to reroute money back from the finance industry that stole it to the goods and service economy by:
That's right, raising interest rates. That would cut down bank loans and their interest profits while raising the value of people who have money, not who loans it.
Since this would cause a depression the solution is a tax holiday with , that's right government debt increasing, essentially owed to itself, aka the FED which should be abolished for an actual fully public treasury.
Ergo the money supply stays the same and the interest to the banks goes away.
low interest rates and high taxes = bank tax cut, tax payer rip off
low taxes and high interest rates ...you get the idea.
"So rather than fight for a bold jobs plan, the White House has apparently decided it’s politically wiser to continue fighting about the deficit. The idea is to keep the public focused on the deficit drama – to convince them their current economic woes have something to do with it, decry Washington’s paralysis over fixing it, and then claim victory over whatever outcome emerges from the process recently negotiated to fix it. They hope all this will distract the public’s attention from the President’s failure to do anything about continuing high unemployment and economic anemia.
When I first heard this I didn’t want to believe it. But then I listened to the President’s statement yesterday in the midst of yesterday’s 634-point drop in the Dow...."
––Robert Reich (read anyway, whatever your politics: robertreich.org - Aug 9)
"So rather than fight for a bold jobs plan, the White House has apparently decided it’s politically wiser to continue fighting about the deficit. The idea is to keep the public focused on the deficit drama – to convince them their current economic woes have something to do with it, decry Washington’s paralysis over fixing it, and then claim victory over whatever outcome emerges from the process recently negotiated to fix it. They hope all this will distract the public’s attention from the President’s failure to do anything about continuing high unemployment and economic anemia.
When I first heard this I didn’t want to believe it. But then I listened to the President’s statement yesterday in the midst of yesterday’s 634-point drop in the Dow...."
––Robert Reich (read anyway, whatever your politics: robertreich.org - Aug 9)
Hi newenglandgirl,
Does Obama know what jobs are needed or 300 million Americans I wonder? A job is repairing a fence or selling apples at the farmer market. If you put more money in people's hands to replace what was stolen from market manipulation, they will put people to work doing jobs that not only pay people an income, but actually result in a product people want.
Does Obama know what jobs are needed or 300 million Americans I wonder? A job is repairing a fence or selling apples at the farmer market. If you put more money in people's hands to replace what was stolen from market manipulation, they will put people to work doing jobs that not only pay people an income, but actually result in a product people want.
It is actually not jobs that are needed as much as training for the jobs that are out there. There are thousands of jobs listed on the major job websites and many in local media. All of them are education-specific and training-specific. Even among healthcare jobs there are constant layoffs and constant rehirings (you can guess why). We do not have the developed workforce anymore--and companies shed and rehire on a regular basis. Today the average out-of-work person (remember that many of the unemployed were laid off due to not being too important to their company's economy) cannot qualify for perhaps as many as 90% of the jobs posted. The American workforce is is sad shape.
Add to the poorly trained or untrained potential workforce the reality of gajillions of unemployed college grads who majored in liberal arts or film studies, and who owe enormous bucks on student loans, and (by the way) we are going to soon see the next huge debacle on top of the housing debacle--the student loan default.
It is actually not jobs that are needed as much as training for the jobs that are out there. There are thousands of jobs listed on the major job websites and many in local media. All of them are education-specific and training-specific. Even among healthcare jobs there are constant layoffs and constant rehirings (you can guess why). We do not have the developed workforce anymore. Today the average out-of-work person cannot qualify for maybe 90% of the jobs that are posted. The jobs that most people can take are being applied for by the hundreds/thousands. The American workforce is is sad shape.
Add to the poorly job-trained potential workforce the reality of gajillions of unemployed college grads who majored in liberal arts or film studies, and who owe enormous bucks on student loans, and (by the way) we are going to soon see the next huge debacle on top of the housing debacle--the student loan default.
If the demand were not artificially constricted by the manipulated money supply, there would be expressed demand for the goods and service people actually want. Companies will gladly train new employees to meet this demand. A few people in Washington have no idea what to train people to do other than prison guards, and bureaucrats.
All you would need to do is repeal the most destructive regressive tax we have that is disguised as our benefactor the SS withholding and allow it to be funded by government debt/ aka, interest free money. Instead they do the opposite and suck it out into the general fund. Just reverse gears and the recession is over. The banksters don't like that though.
I just do not get it. Why don't they incentivize employers to bring jobs back to the U.S? Do they plan to extend unemployment benefits indefinitely? What does "jobless recovery" mean? They need to leave Medicare and Social Security alone; working people contribute to that. Self interest may benefit a few, but in the end, it will destroy this country.
I just do not get it. Why don't they incentivize employers to bring jobs back to the U.S?
The things that would incentivize employers to bring jobs back would also alienate our trading partners and distort prices in the free market. Our trading partners would surely retaliate. We'd have a whole new set of problems on our hands in no time. It's called protectionism and it's counterproductive, ultimately.
Obviously the stimulus that was attempted back in 2009 didn't fix the economy. What one needs to ask though is "why"? Tax cutting and government spending has worked in the past to stimulate the economy. If anyone doubts that take a look at a few situations in our past:
1. Kennedy cut taxes in the early 1960's--did not decrease government spending-- and the economy grew by leaps and bounds.
2. Ronald Reagan cut taxes in 1981 and government spending was left in tact (through increases to defense spending) and the economy slowly pulled out of a major recession.
3. George W. Bush cut taxes in 2001, left government spending in tact, and the economy escaped a major recession that the 9/11 incident could have caused.
Both government spending and tax cuts create demand for good and services in an economy that would not be there when private sector spending declines. When this money is than spent on goods and services, the recipients of that money go out and spend it creating additional demand for good and services as well as the jobs that go along with it.
My suspicions are that the reason the Obama Stimulus didn't do the job is that it was too small, given the vicious down spiral the economy went into back in late 2008. The stimulus was about $780 billion consisting of both tax cuts and government spending. This sounds like a huge amount of money and it is. However, its a small percentage of overall GDP in one year. Even so, what is often left out is that the Stimulus did help. At one point unemployment was at about 10% and now its about 9.1%, plus (even though it is very sluggish) we have some minor growth now in GDP. Someone is bound to argue that real unemployment is higher than that and it probably is. However, in relative terms unemployment is slightly down.
The worst thing we could do right now is engage in mammoth budget cutting. If we do that, demand will drop sharply and unemployment will rise sharply as well. For political reasons, we can't have another Stimulus. If we can't do that, the next best thing would be to stay where we are. I think the economy will slowly recover at this point on its own. It will take longer than we'd like, but that's better than causing another ugly recession.
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Truth about jobs
the student loan default.
