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Putting Americans Back to Work (Here's the problem!)
WSJ Opinion Journal ^ | 12.2.09 | By CHRISTINA ROMER

Posted on 12/02/2009 8:31:48 AM PST by Thebaddog

President Obama took office at the height of the worst downturn since the Great Depression.

Indeed, on Monday the nonpartisan Congressional Budget Office issued a report that estimated that the Recovery Act raised GDP in the third quarter by between 1.2% and 3.2% relative to what it otherwise would have been, and increased employment between 600,000 and 1.6 million.

Despite these positive developments, the job market remains very weak. The dramatic decline in economic activity last fall and winter led to soaring unemployment. Furthermore, the job losses were deeper than would be expected just on the basis of the behavior of GDP.

Given the budget deficits this administration inherited, it is critical to leverage scarce public funds. More fundamentally, when businesses seem hesitant to hire and productivity is surging, we need to harness the private sector, bringing large and small firms in off the sidelines to boost job creation. One idea is to give direct incentives for homeowners to retrofit their homes to improve energy efficiency.

It could help both stimulate the manufacture of retrofit products and increase construction employment. Others have suggested incentives to help small businesses invest, grow and create jobs. This could include measures to restore the flow of credit for small businesses and targeted tax cuts. In these types of ways, a moderate and targeted investment by the government might be leveraged into significant employment gains and purchasing power by small businesses. Direct government investments can also play an important role.

All these ideas are just that—ideas to be discussed, refined and evaluated. Action on any measures to spur job creation will be worked out with Congress after careful study, and will be done in a fiscally responsible way.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; jobs; romer
All these ideas are just that—ideas to be discussed, refined and evaluated. Action on any measures to spur job creation will be worked out with Congress after careful study, and will be done in a fiscally responsible way.

Anybody for a quick fix, like a tax break?

1 posted on 12/02/2009 8:31:48 AM PST by Thebaddog
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To: Thebaddog
Given the budget deficits this administration inherited, it is critical to leverage scarce public funds.

What BS, the first thing they did was start digging the hole deeper.

2 posted on 12/02/2009 8:37:45 AM PST by org.whodat
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To: Thebaddog

Tax break will not work!!! We have over supply and over production. That is just more of digging the hole deeper.


3 posted on 12/02/2009 8:40:09 AM PST by org.whodat
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To: Thebaddog
Anybody for a quick fix, like a tax break?

I'm still trying to decide whether my ears were playing tricks on me, but this am on WPTF (AM-680, Raleigh NC) the host interviewed an econ professor from Duke who actually proposed that as the first of three measures he would take, if he were president. The next one was reducing government expense.

I really liked what I heard, but like I say, I'm still trying to decide if I really heard it.

4 posted on 12/02/2009 8:41:40 AM PST by BelegStrongbow (I'm still waiting for Dear Leader to say something that isn't a lie)
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To: org.whodat

Nonsense. What we have is an underdemand and underconsumption problem, both of which would be fixed by higher retained personal earnings.


5 posted on 12/02/2009 8:43:34 AM PST by BelegStrongbow (I'm still waiting for Dear Leader to say something that isn't a lie)
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To: Thebaddog

What a load of bovine feces....


6 posted on 12/02/2009 8:44:03 AM PST by expatpat
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To: BelegStrongbow

The real answer is to kill HCR as quickly as possible and Cap and Tax as well. Ultimately, it could be the mid term elections next year that put things back right by removing Pelosi hopefully. Without these changes, who can predict their expenses?


7 posted on 12/02/2009 8:44:31 AM PST by Thebaddog (AYBABTU)
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To: BelegStrongbow
LOL, underdemand, and underconsumption. LOL, ROFLOL

http://www.usdebtclock.org/

8 posted on 12/02/2009 8:46:40 AM PST by org.whodat
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To: Thebaddog
President Obama took office at the height of the worst downturn since the Great Depression.

Hey. The American people voted in the democrats in 2006. Before that, everything was fine. They were in charge of spending ever since - 3 years worth! People got what they voted for.
Maybe next time they'll think twice before pulling that lever for a democrat.

9 posted on 12/02/2009 8:48:54 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Thebaddog
Anybody for a quick fix, like a tax break?

Can't. The democrats have been spending money for 3 years now, and Oboma took our future paychecks, our kids paychecks, and our grandchildrens paychecks. There's nothing left for a tax break.

If they were to eliminate most of the welfare programs, that would get people off their butts to do something.That would be more than motivational, and it would put money back into the pockets of the producers. That's about the only reasonable option left.

10 posted on 12/02/2009 8:56:36 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: org.whodat

You are correct.
Anyone with a lick of common sense knows what’s going on here.
The government actions have caused demand destruction. If you are trying to gauge your business activity for the future, as any good business would do, you know what’s coming in 2 years or 5 years. It is mathmatically impossible to thwart the hyperinflation of the future. Right now velocity is holding it back. But for how long?

No one has any confidence in the ‘progressive’ government we now have.


11 posted on 12/02/2009 9:01:15 AM PST by griswold3 (You think health care is expensive now? Just wait till it's FREE!)
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To: concerned about politics

Good point!
We do not have enough producers to take care of the looters and moochers out there.


12 posted on 12/02/2009 9:03:42 AM PST by griswold3 (You think health care is expensive now? Just wait till it's FREE!)
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To: Thebaddog

And then truncate further ‘stimulus’ spending, yep. I think we can predict that, if the shadows of things to come do not change, we’re all bound for Ebenezer’s fate: unloved, in paupers’ graves.


13 posted on 12/02/2009 9:06:21 AM PST by BelegStrongbow (I'm still waiting for Dear Leader to say something that isn't a lie)
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To: Thebaddog

Check out the brilliant job creation scheme thought up at Michigan State University.

http://www.mlive.com/michigan-job-search/index.ssf/2009/12/michigan_state_university_study_recommen.html

As near as I can figure we don’t have enough unemployed people in Michigan so we need to bring in more aliens with an agreement to attract foreign investors so the aliens will have jobs.

Jobs Americans aren’t allowed to do?


14 posted on 12/02/2009 9:08:49 AM PST by cripplecreek (Seniors, the new shovel ready project under socialized medicine.)
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To: Thebaddog
Here's another problem:
15 posted on 12/02/2009 9:14:05 AM PST by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: penelopesire
snopes

http://www.snopes.com/politics/obama/physics.asp

16 posted on 12/02/2009 9:21:59 AM PST by grandpa jones (I am Jim Thompson.)
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To: penelopesire

LOL oh geeze.


17 posted on 12/02/2009 9:22:54 AM PST by cripplecreek (Seniors, the new shovel ready project under socialized medicine.)
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To: Thebaddog
Action on any measures to spur job creation will be worked out with Congress after careful study, and will be done in a fiscally responsible way.

BWAAHHHAHAHAA!!!sure...this must have this Congress confused with another.

18 posted on 12/02/2009 9:29:48 AM PST by WOBBLY BOB (ACORN:American Corruption for Obama Right Now)
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To: Thebaddog
Action on any measures to spur job creation will be worked out with Congress after careful study, and will be done in a fiscally responsible way.

BWAAHHHAHAHAA!!!sure...they must have this Congress confused with another.

19 posted on 12/02/2009 9:30:04 AM PST by WOBBLY BOB (ACORN:American Corruption for Obama Right Now)
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To: Thebaddog

A little research on CHRISTINA ROMER would alert you to just how dumb she actually is, she at one point was just a normal somewhat rational academic economist, but now has become just another slug in the gut for this economy. Plus she is a fatazz!


20 posted on 12/02/2009 9:34:27 AM PST by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: Thebaddog
I guess one doesn't get much for trillion dollar “stimulus” packages nowadays. We spent less money for our wars in Iraq and Afghanistan in 8 years and created more jobs...
21 posted on 12/02/2009 9:50:33 AM PST by Gritty (If Islam is such a “religion of peace,” why do they have to keep reminding us?-Don Feder)
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To: Gritty
We spent less money for our wars in Iraq and Afghanistan in 8 years and created more jobs...

Why stop there? Oboma spent more money in the last year than all the American presidents have - combined!

22 posted on 12/02/2009 10:12:13 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: org.whodat

‘the Recovery Act raised GDP in the third quarter by between 1.2% and 3.2% relative to what it otherwise would have been’

LOL, relative to what it otherwise would have been!!!


23 posted on 12/02/2009 10:14:57 AM PST by Freddd (CNN is not credible.)
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To: org.whodat

‘the Recovery Act raised GDP in the third quarter by between 1.2% and 3.2% relative to what it otherwise would have been’

LOL, relative to what it otherwise would have been!!!


24 posted on 12/02/2009 10:17:47 AM PST by Freddd (CNN is not credible.)
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To: org.whodat

‘the Recovery Act raised GDP in the third quarter by between 1.2% and 3.2% relative to what it otherwise would have been’

LOL, relative to what it otherwise would have been!!!


25 posted on 12/02/2009 10:17:49 AM PST by Freddd (CNN is not credible.)
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To: Thebaddog

Obama and his professional know nothings haven’t a clue about businesses....they are making it worse every time they tinker with the mechanisms....if there if an Off Switch, will someone please hit it?!


26 posted on 12/02/2009 1:40:59 PM PST by yoe ( Fight organized crime: Re-elect no one...)
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To: cripplecreek
As near as I can figure we don’t have enough unemployed people in Michigan so we need to bring in more aliens with an agreement to attract foreign investors so the aliens will have jobs.

LOL

27 posted on 12/02/2009 2:06:31 PM PST by org.whodat
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