Wednesday, December 9, 2009

Growing Our Way Back to Economic Health

Size Matters -- Particularly When It Comes to Jobs
Robert Borosage
Huffington Post, 12/9/09

"...[Z]ero job growth is not a victory. It takes over 125,000 new jobs a month simply to keep up with population growth. Economist Jamie Galbraith notes that to return to the levels of employment needed to generate rising incomes, we'll need 250,000 new jobs a month for five years. "

"So go big. $100 billion or more for states and localities; 100 billion for extending unemployment and food stamps for the victims, 50 billion a year for infrastructure projects, 40 billion a year to create a million public service jobs, plus opening up loans to small and medium sized businesses, plus the inevitable tax cuts and credits -- to senior, for weatherization, for small businesses -- Congress should be considering, as Paul Krugman suggests, a several hundred billion dollar program over two years."

"This will elicit screeds about deficit spending, but the president has this right. If you want to get the deficit down, the first priority is to get people working, earning money, paying taxes, and not drawing on government aid..."

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