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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