The primary yardstick used to gauge the depth of the current recession is the unemployment rate. A year or so ago it hovered between 7 and 7.5 %. Responding to that urgent problem, Obama and his advisory team came up with a Stimulus package priced at about $800,ooo,ooo,000. That’s right – $800 Billion. During the past year, the unemployment rate has surged to 10.2 %. Obviously the Stimulus package has been a disastrous flop. Whatever became of the “shovel ready” projects?? Now, some of his Democratic supporters are talking about a Stimulus II — you know, when in doubt, throw more money at it. In trying to justify the 2008 Stimulus package, the reports of job creation (and/or job saving) have been downright laughable, including job creation in phantom non-existent Congressional districts. Yoo-hoo, anyone driving this train??
Even left wing economists concede that real job creation rests with small businesses. The economy doesn’t await the IBMs and Chevrons to hire thousands of new employes. Rather, the prime mover is thousands of small businesses hiring 5-10-20 people or so apiece. Doesn’t it make senses to help small business owners instead of imposing more and more burdensome taxes on them? Instead of impressive rhetoric, a few pro business measures might be the real stimulus that is needed.
Are you listening, Mr Prez??