This month’s jobs report shows an economy that’s still moving in the right direction but way too slowly, which is why Washington’s continuing obsession with the federal budget deficit is insane. Jobs and growth must come first.
The cost of borrowing is so low — the yield on the ten-year Treasury is near historic lows — and the need for more jobs and better wages so high, and our infrastructure so neglected, that a reasonable government would borrow more to put more Americans to work rebuilding the nation.
Yes, unemployment is down slightly and 146,000 new jobs were created in November. That’s some progress. But don’t be overwhelmed by the hype coming out of Wall Street and the White House, both of which would like the public to believe things are going quite well.
The fact is some 350,000 more people stopped looking for jobs in November, and the percent of the working-age population currently employed continues to drop — now at 63.6%, almost the lowest in 30 years. Meanwhile, the average workweek is stuck at 34.4 hours.
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Repeat after me,
ReplyDelete"Government does NOT create sustainable jobs!!!"
Low interest loans to people wanting to open their own business is not government creating jobs.
ReplyDeleteIt's giving someone the opportunity to try and make it on their own and hiring a few employees. A solid economy will allow said business to grow and hire more people.
Absolutely NOTHING in this article about low interest SBA loans.
ReplyDeleteIt'a about ignoring the deficit and borrowing more.
If spending money it doesn't have creates jobs then the Federal Government would have already created full employment. Only the private sectors creates real work.
ReplyDelete10:16 subsidizing private ventures is not the way to. Corporate welfare is corporate welfare. Let it collapse and rise again with fail safe mechanisms in place to assure this never happens again.
ReplyDelete