Tuesday, July 21, 2009

Must Read: "Our Jobless Recovery"

There was a must read article in the July 13, 2009 issue of The Nation magazine. "Our Jobless Recovery" by Leo Hindery Jr. and Leo W. Gerard is a skillful and principled critique of the Obama administration's economic policies, the stimulus bill, and the shortcomings of both.
Obama has spoken forcefully about laying a new foundation for the economy, one that creates good jobs and rising incomes and that moves us from an era of borrow-and-spend to one where we save and invest and are able to produce more at home than we consume. And we agree these are the right goals for the nation. However, we do not believe that the policies the administration is pursuing will get us there, nor is the administration's economic stimulus plan likely to move us toward anything approaching full employment.
The Obama administration needs to pull its head out of the sand. It will take more than inspiring rhetoric for the United State's economy to prosper, and the more the Obama administration delays, the more damage will be done to our industrial base.

Democrats in Congress must not let the Republicans bluff them out of acting dynamically to create jobs. Remember: the Republicans want the Democrats--and out nation--to fail.

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