Tag Archives | get a job?
The White House tells us the economy is improving.
Tell that to anyone looking for work today.
Unemployment is still at recession-like levels, even with a recent surge in hiring. As David Leonhardt points out in this New York Times column, financial crises tend to produce uneven recoveries featuring several years of high unemployment.
How do you help bring down unemployment? Increased government spending on public works programs is one path – people get jobs; they earn money that they can spend, which helps the businesses that get that increased revenue; more taxes are paid by the individuals as well as by the businesses; and the surge in business activity can even lead to further private-sector hiring. All in all, a financially beneficial circle.
Cutting government spending, of course, is more like a death spiral. Nobel-winning economist Paul Krugman has been banging the drum for the past year about the failure of belt-tightening as a path to prosperity in Europe in general and Britain in particular.
The Tea Partiers’ fondest wish is something like the current experiment of Britain’s Conservative Party, its Orwellian-named “Big Society” program, featuring government-funded social programs being replaced by volunteers (I Am Not Making This Up—here’s a piece on the program from The Guardian). Financially beneficial circle? More like circling the drain.