Friday, August 5, 2011

Associated Press: President Obama- 'On Economy: Things Will Get Better'

Source:Associated Press- President Barack H. Obama (Democrat, Illinois) talking about the American economy.

"President Barack Obama is welcoming the latest jobs report as encouraging, saying 'things will get better.' At the same time, Obama says the economy isn't producing enough jobs and says that must be corrected. (Aug. 5)" 

170,000 jobs created in July is definitely a hell of a lot better than the 18,000 jobs created in June. And 9.1% unemployment is at least technically better than 9.2% unemployment. But for the unemployment rate to get down to a more desirable level that can be managed, where the economy looks like its clearly improving, we need to be creating hundreds of thousands of jobs per month.

We need to create 170K plus jobs every month actually get closer to 200K jobs per month or more to seriously bring down unemployment. Thats going to take economic growth and 1.5% ain't going to get that done. We need to be around 4% or better and for that to happen people need to feel confident about spending money and have the money to spend in order to create demand so business's are making enough money where they actually need additional employees to fill new jobs to meet the new demand. And this won't happen sitting around and waiting for it to happen. 

The White House and Congress need to pass legislation to help accomplish this since they just reached an agreement to start paying down our debt and deficit. They need to pass legislation to to help our hurting manufacturing industry and we start making and selling things again and the work is done by Americans. And they can start by passing the three trade deals that are currently stuck in Congress and get our products sold in Central America, Columbia, and Korea. That would be the quickest and most effective thing they can do. 

Congress should also pass an infrastructure bill like a National Infrastructure Bank which would get our infrastructure projects up and running and cut some red tape through Congress as well as the Administration. This bill already has bipartisan support in Congress with Senator Kerry and Senator Hutchison authors of this bill. Because this would be an independent agency of the Federal Government. That would raise these funds through the private sector attracting investors and then hiring the company's to do the work. 

And then energy: let's eliminate corporate welfare for big oil and gas in exchanged for allowing them and alternative energy industries have more access in the country to produce American energy in America and hire Americans to do these jobs this is something we should've been doing all along but there is not better time then now to get started. 

Today's unemployment record looks a lot better than it did in June and May obviously just because of the fact that a lot more jobs were created. And it looks more like April and March when we were in the 100K plus jobs created area. But this is just one positive jobs report and there's still a tone left to be done but we can accomplish it.

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