Truth to Power

Give ‘em jobs, Mr. President

Instead of bailing out your banker buddies, try this:

Memo to Obama:

“For God Sakes, strap on a pair and get to it”

By Mike Whitney

This is bad. Double-digit unemployment. In October, unemployment soared to 10.2%. 16 million people are out of work. The average work week is down to 33 hours. Payrolls have contracted 22 months straight. The “real” jobless rate (underemployment) is now 17.5% and rising. These are Great Depression numbers. The country is in a Depression. So, why is there no talk of federal work programs? Why no WPA?

The dot.com boom fizzled and the housing boom is kaput. There’s no driver for new jobs; no more bubbles. Personal bankruptcies are up, foreclosures are soaring, the food banks are maxed out, and the homeless shelters are bulging. Everyone is poorer and the economy is broken. People need jobs, good paying jobs with benefits. Government jobs.

Where’s Obama? Preparing his next speech?

No more speeches. No more grand oratory or gibberish about “change”. Think: debt relief. Think: targeted stimulus. Think: jobs. And, then, get on with it.</em>


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