Obama Needs a Full-Employment Policy
The new unemployment figures are a stinging indictment of the Obama economic policy.
Standing now at 10.2 percent, the highest in 26 years, the rate is much worse than Obama’s advisers predicted.
And their song is getting tiresome.
They keep singing that the economy would be much worse off without the $700 billion stimulus.
But that’s no solace to the more than 15 million people who are out of work today.
You can’t tell a guy who got laid off that it could have been much worse for him? What are you going to say: You could have been doubly laid off?
You can’t tell someone who just lost her home that it could have been much worse for her.
It already is much worse for her.
And to keep saying that we’re saving or creating 3.5 million jobs, as the Administration contends, is no solace either when so many more people are out of work.
Until Obama makes a commitment to a full-employment recovery package, he’s failing to meet the crisis at hand.
Several of the best progressive economists in the country—including Dean Baker, James Galbraith, Paul Krugman, and Joseph Stiglitz—warned Obama that he was coming in way too low with his original stimulus package. They predicted that unemployment would surpass 10 percent. Obama ignored them, and now he and his advisers claim that no one could have predicted it would be this bad.
Wrong.
It’s poor economics and poor morals to design a recovery package that leaves so many people unemployed.
And it’s suicidal politics.
With unemployment this high, the voters are likely to take more revenge on the Democrats a year from now.
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Comments
I agree with both Bix12 and Mr. Greg Morris.
Excellent plan Bix12, but after all those Trillions
spent bailing out Banks, that no one seems to know where it went. where are we gonna come up with the money now? The amount already spent has ruined us, with no job return to speak of.
I am in the Construction Trade and we were hoping for some infrastructure money, but what we got was practically zip. Just some highway overlay projects
which really only amount to slapping a new coat of paint on a turd. But all with the big "O" symbol on the project signs.
Obama had his chance and blew it in favor of his Wallstreet, Global Banking "Cronies" or should I say "Masters", whatever. Banks deemed too big to fail while the United states itself is not given that status.
Thus brings us to Greg's comments, which I whole heartedly agree on, but let me add more sinisterly, that they do not give a Rat's Butt about infrastructure because they really want to dismantle what we have and give the land back to their Earth Goddess.
Not enough Infrastructure to support our population?
I think they are looking at having a smaller population soon.