Quote:
Originally Posted by dc_dux
What would you have proposed as a comprehensive plan to not only keep the economy from the inherited collapse in the short term, but also retooling the economy to make it more competitive in the future?
The Lost Decade
There is no quick fix that I can come up with. The Libertarians say stay out of the way and the economy will fix itself. The Republicans say supply side trickle down tax cuts will work (despite the $1 trillion in tax cuts in 01 and 03 that failed on the promise of economic prosperity for the middle class).
IMO, the stimulus plan designed on two tracks makes sense, with some short-term "shovel ready" jobs funding, short term assistance to those unemployed, stabilization funds for state/local government AND long-term retooling or redirecting the economy with investments in alternative energy technology and health technology, building a national broadband network, repairing the infrastructure, etc.
It takes time and it was envisioned as a 18-24 month plan. Will it work. Who knows, but IMO, it is too soon to declare it failed.
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Quick fixes....
find someone interested in buying GM
instead of all that money to banks.... give it to the states to improve the roads, schools, bridges and so on... creat instant jobs the way FDR did by rebuilding the infrastructure that is crumbling before our eyes.
raise tariffs enforce labor laws in US owned corporations overseas.
go after, prosecute if possible those bankers that took high salaries and buyouts knowing they destroyed the company and ripped off investors and consumers...
start re regulating the banks, make the interest rates for savings and checking somewhat valuable and in some proportion to the interest rates we pay on credit cards, for loans etc.
You do that and the economy rebounds in less than 6 months.
---------- Post added at 09:07 AM ---------- Previous post was at 08:58 AM ----------
Quote:
Originally Posted by dippin
Actually, the U6 unemployment measure takes into account all of those things. Part timers with low wages are the so called marginally employed, and those who gave up looking are called discouraged workers, and collecting UI has nothing to do with the measure.
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Really??? and exactly how does the government get this U6 number. How do they know exactly how many are homeless, discouraged, can't collect because they were salaried/owned their own small business or were independant contractors?
And what is the current U6 number given by the government and the number BEFORE Obama took office?
I'd like to know because I lost my job the past year and had to take a $3+ an hour paycut and was unable to file for unemployment.
My wife lost her job because Charter One (an RBS bank owned subsidiary) because they closed her branch and didn't take management with them.
So our household now pays lower income taxes (MUCH LOWER) and cannot afford to stimulate much in the economy world. Much like many of my friends and thousands in North East Ohio as a whole.