Unemployment Rate Tops 10 Percent as 16 Million People Look for Jobs
And an excerpt from the story:
Still, economists expect jobs likely will remain scarce even as the economy improves. Diane Swonk, chief economist at Mesirow Financial, said that small businesses, a primary engine of job creation, still face tight credit and don’t have the cash reserves to support extra workers.
And who benefited the least from all this Stimulus Spending–small business–we spent a lot on government projects but they don’t create jobs, we find some of the money spent didn’t save jobs but were used for pay raises in my humble opinion the only thing the stimulus bill has done is put the country in debt.
Had the Administration used it common sense and listened to those who know they would have realized that the private sector (that they don’t control–yet) makes the jobs–if they had focused this spending in the form of job tax credits I’m sure alot of companies would have taken advantage of it.
Now we have a Congress that is trying to mandate employers with over 50 employees either offer health care or be subject to fines(taxes)..well let me tell you the unemployment rate will go up..don’t be naive you know it and I know it.
The obvious drawback (in the administrations eyes) to proper/correct/common sense/realistic government intervention in the form of tax credits for business is the loss of the unemployed’s dependence on government assistance–no longer can they say look what we’ve done for you vote for us.
If todays headline surprises you–its time to get attuned to what is happening in this country and prepare to make a change in 2010.
