Jump-Starting the Job Market
If Obama wants to create jobs then he has to start chipping away at the uncertainty his administration has created ["Patience Wearing Thin as Obama Turns to Jobs," usnews.com]. Businesses accelerated the unemployment rate when it looked like Obama was going to win the election because of the fear of tax increases, more regulation, and higher health cost burdens. Sure enough, every single one of these fears has come to light. As a result the only profits over the past year have been gained by squeezing efficiency and lowering overhead by firing hard-working Americans. In order to get businesses to hire, Obama has to more clearly articulate his tax, pollution (carbon credit), and health costs over the next 3 to 7 years. Otherwise, businesses and consumers will continue to sideline any future spending plans.
Comment by Chris of FL
It might be well to remember that a year ago our economy was heading into an apparently bottomless pit which we are gradually climbing out of. Patience is a quality Americans are traditionally short on—and perspective. Where would we be today with a Republican in the White House? Would unemployment be 8 percent? Doubtful. Let's look for solutions as this administration is doing. Some immense problems are being tackled and gradual shifts are taking place moving our country back into the fellowship of nations and away from bullying imperialism. Anyone who expected that all to happen overnight was mistaken.
Comment by Eugene of IL
Anyone that thinks that the economy is (slowly) getting better is delusional. I suggest that you fasten your seat belts and stock up the pantry; unless there are policy changes and what we are seeing now is temporary then we are in for a rough ride. May not happen yet this year; but mark my words—it's coming. The U.S. has spent way more than it has; foreign governments are losing faith in our financial system and the value of a dollar is going to go to hell in a hand basket. Increasing government spending right now will do nothing but promote inflation.
Comment by Nancy of KS
On the other side of the coin, the Republicans' idea to reform the economy was to make the Bush tax cuts permanent and more tax cuts to what they call "small businesses" but what the rest of us call corporations. This is the worst recession since the Great Depression. The Great Depression took 10 years to recover [from] and unemployment was 25 percent. I believe the Democrats did a great job softening the blow since things didn't get nearly as bad as projected. I do hope to see everyone working again, but it seems CEOs would prefer a bigger bonus than to add hourly jobs.
Comment by Chuck of CO
It is no surprise to anyone who has thought about it that unemployment is still high. How can employers hire new workers when there is so much Congress-caused uncertainty? How much will payroll taxes rise? Health insurance premiums will skyrocket if any of the healthcare bills that have passed out of committee become law. Will companies even be able to afford the workers they have, let alone new ones? And then there's cap-and-trade—which will deliberately push up the cost of energy and transportation, therefore driving up the cost of virtually all goods and services. Small employers are scared to death and large employers face possible government interference in even their everyday payroll choices.
Comment by Linda of MD
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Reader Comments
The Job Market - Out with the Old
It has been predicted by many, starting 15+ years ago, that because of the advent of the processor, the job market would change and that, because of this, those who don't have a good understanding of computers and how to work them would not make it through "the funnel". Jobs of the past such as pounding nails, cutting wood, manufacturing jobs, and the like (and many more...just about anything you can think of including food business jobs) are quickly becoming a thing of the past. In the not-so-distant future all of these jobs, and more, will be handled by machines and the software that controls those machines. If you don't have the skill set to either work the machine via a computer, write the software that works the machine, or contribute to testing and implementation of these machines and the software than controls them, you're not going to make it.
The government should understand this and provide assistance to educate folks coming out of this "out with the old" job market so that they can be re-deployed in the "in with the new" job market. In the end we will be a much more efficient and wealthy society.
Automating all of these things...and many more..is going to require a lot of trained folks. That's what we need.
Whoa just a minute there on the tariff idea
Greg of NJ wrote: "If countries don't want to play fair in trade I say all for tarrifs. All countries have some form or another of protectionism except for us."
First off, protectionism does more harm than good in a global economy.
Secondly, for "unfair" traders, there's the WTO (World Trade Organization) to turn to. Nations with a complaint about the trading practices of other nations can turn to the Dispute Settlement Mechanism within the WTO.
http://www.wto.org/english/thewto_e/whatis_e/tif_e/disp1_e.htm
Bloated bureaucracy before tariffs! (I was being snarky, but it's still the better alternative than to turn towards protectionism).
The current economic climate
The republicans got us into this mess. The only answers they seem to come up with is cut taxes, cut taxes, cut taxes. This isn't the solution. We need a public healthcare plan now to cut insurance companies down to size. They along with all the big corporations are raping the American people. Wall street too needs to be overhauled along with the banks that are making a mockery of the people by continuing these outrageous bonuses. To bring jobs back we need to invest in new energy technology and bolster manaufacturing. All manufactoring, big ticket items and well as small. If countries don't want to play fair in trade I say all for tarrifs. All countries have some form or another of protectionism except for us. It's time America stands up for itself and stop giving away the house to foreign companies and governments. Obama is doing the best he can given the Republicans try to block every initiative he's trying to put into place. I get sick to my stomach everytime I hear one talk on CNN. They are completely bought by corporations and special interests. I'm sick of it they should be arrested or shot.
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