In the face of the mounting unemployment crisis, the Obama administration has no plans to offer serious relief to the 15 million workers out of work and the millions more facing job losses and economic ruin in the coming months.
Despite official claims that the economy is recovering, the Labor Department reported last week that a higher-than-expected 263,000 workers lost their jobs in September, with another 571,000 workers dropping out of the labor force after giving up looking for work.
In his weekly address Saturday, President Obama almost casually remarked that “employment is often the last thing that comes back after a recession” and said the jobless figures were evidence that “progress comes in fits and starts.” He added that his administration would “explore additional options to promote job creation,” but offered no proposals.
The bulk of his address was focused on his plan to slash health care costs, which he claimed would lead to job creation. “Reforming our health insurance system will be a critical step in rebuilding our economy so our entrepreneurs can pursue the American Dream again,” he declared.
Obama signaled with his lauding of “our entrepreneurs” that no measures would be taken to address the social crisis that impinged on the profit interests of big business.
...According to Tuesday’s New York Times, “Among the options for additional steps is some variation on Mr. Obama’s proposal during the stimulus debate to give employers a $3,000 tax credit for each new-hire, which Congress rejected last winter partly out of concern that businesses would manipulate their payrolls to claim the credit.
How is that 'tax credit' financed? Borrowed money? Printing press? Also 'new' hires? What about all those that have been laid off, terminated, fired, or let go? Maybe they want their old job back?
Obama has continually insisted that the private sector, not the government, is the “engine for economic growth.”
I wonder if some segments get a different message? I've always thought that Obama favors government public works spending.
Where is the money really going?The administration’s refusal to address the unemployment crisis is consistent with all of its other economic policies. From the multitrillion-dollar Wall Street bailout, to the assault on General Motors and Chrysler workers, to health care “reform,” the administration’s central aim has been to secure the interests of the financial elite. Rather than reducing unemployment, the administration is seeking to use mass unemployment to blackmail workers into working harder and faster and accepting permanent cuts in their wages and benefits.
No jobs for Americans. Send those jobs oversea and give the global corporations and global elite a boat load of money.
A recent article in Bloomberg News noted that the administration’s economic policies have encouraged big investors to launch a new wave of corporate mergers and acquisitions, which will result in the destruction of many more jobs.
The article pointed out that such activity is being driven by the fact that billions in investment capital can find no productive outlet. It cited a note to investors by Credit Suisse Group saying, “M&A now looks ready to make a comeback.”
Companies to big to fail? Backed by taxpayer monopoly money?
The prospect of bankers reaping huge fees for deals that result in job losses will cause an outcry, the article continued, “particularly as those fees will mostly be earned by banks that got taxpayer bailouts a year ago.” Bloomberg warned, “The sight of financiers making fortunes while ordinary people lose their jobs will stoke a populist backlash that is already brewing.”
The Grim Reapers of Wall Street?The realization of such a program requires a complete break with Obama and the Democratic Party and a struggle against the profit system which both they and the Republicans defend.
lots more ideas here -
http://www.wsws.org/articles/2009/oct2009/jobs-o07.shtmlAny system may be spoiled by greed and corruption. Greed and corruption in government are a global problem. Follow the money...jmho
