Unemployment & the Economy

One response to “Unemployment & the Economy”

1. DanC | 07/11/2011 at 6:24 AM | Reply

   This is why I’m skeptical of moves to cut the deficit at this time. Didn’t our economics classes teach us that deficit spending stimulates the economy in the short run? You have to pay for it in the long run, but right now we need MORE stimulus, not less. Interest rates are practically zero. Does anyone think government spending is crowding out private investment or that businesses are failing to invest and hire because interest rates are too high?

   Why not a 1930s-style jobs program? Hire thousands of people as home health care workers and send them into the field to visit shut-ins. Or thousands to pick up litter on the highways and beaches or to play cards with the old folks at the nursing homes. Low-paying but full-time jobs. Unemployed 50-year-olds will balk at those jobs, but 25-year-olds won’t be so picky.

   Also, one silver lining in this recession – American companies are now super efficient. Laid off all those people and still making good profits. Good for the long run.