I don't think unemployed people would feel great about the economy even if the unemployment rate was 2%. Nonetheless, the private sector has added jobs for 25 consecutive months and the economy is slowly but surely coming back. Too slowly to be sure.
It depends on how you arrive at that 2% number now doesn't it? If your policies have resulted in a shrinking of the labor force that makes the number appear to be declining, then say that indicates 'jobs growth', well, that isn't really honest now is it?
Literally speaking, we can keep printing money as long as people are willing to buy our debt. And notwithstanding dire predictions on the right, demand for U.S. debt has never been higher despite the fact that we are paying close to zero interest. Thanks to those low interest rates, the cost of maintaining the debt now is actually LOWER than it was in 2007. But obviously we can't keep accumulating debt at this rate. We should be enacting medium and long-term policies to reduce the debt through spending cuts, entitlement reform, and tax increases. Unfortunately neither party has been willing to face reality.
I agree with you that we need both parties to cut the crap so to speak, and start leveling with the people. But, if we are placing our bets on the health of the country on the sheer ability to go deeper into debt, and less on real innovation, and basic fundamentals of what built this country, then we are in deep, deep trouble.
The stimulus addressed both private and public sector jobs. Obviously a lot of the state projects that it paid for were carried out by private contractors. And of course it helps private busiensses when public employees aren't laid off. Like everyone else, public employees spend their money at private businesses.
So, by that reasoning, then every job should be a government one?
You are making the argument once again that the wealthy in this country should pay more, and if they don't then it is their fault if the country collapses.
Clearly the GSA outing was a fiasco, but this sort of thing is hardly limited to government. For example, Merrill Lynch gave its CEO an $10 million bonus the year the company lost $11 billion.
GSA is the tip of the iceberg. If you want an argument from me that CEO's that run their business into the ground then jump out with a golden parachute is proper, you won't get it. But that is up to the shareholders of the company. Just as this malfeasance from governmental agencies is up to the voters, and Obama is running from that record, and shifting responsibility. Yet, you and others want us to believe that Obama has done a bang up job?
I think the government has basically done the right thing over the last four years. Not perfect, but generally the right moves. But there is only so much the government can do to correct massive recession that arose out of the financial sector. It's just going to take time.
We don't have that luxury of time. Obama himself said that if his policies didn't produce some real measurable indicators that he laid out, then he would be a one termer....Now, liberals want us to just forget that he said that....Time to pay the piper.
j-mac
