Obama Stimulus Plan May Do Little to Help the Unemployed
President Barack Obama's new stimulus plan directs government assistance to some of the strongest parts of the economy without solving the biggest problem: finding work for the 14.9 million unemployed.
I feel sorry for him. I think the poor man is doing the best he can with what he inherited. As I've said before, so long as we keep exporting our jobs to China / India, we're going to be stuck in this rut. Yes, we need China and India, but we need US, too! If unemployment keeps creeping upwards, who's going to buy all the "stuff" China and India are making? It's simple math. If we can get something made for $1.00 an hour in Kolkata, why pay $60.00 / hr to have it made here? Everything ultimately comes down to time or money. We've advertised & exported our 'way of life' to the rest of the un/under-developed world & now they want to live they way they see us living. The only problem is, we can't continue to live that way unless we can support ourselves. And for the foreseeable future, it appears we're going to continue to support China and India (and others). Banks are borrowing at 0.25% interest and NOT LENDING. hmmmm I wonder what they're doing with all that cheap money? ? ? I've heard, recently, that even those with sparkling credit reports can't get loans. Who's going to take a chance on us? Maybe when oil hits $100 / barrel, we'll see some green start-ups. I think our manufacturing / exporting days are over, sadly. Now it's China & India's turn. I'm sure I'll get a lot of flack over this reply. Oh, well. We can't all agree all the time. Just my 2 cents, and that's about what this post of mine is worth.
After all, it's what you learn AFTER you know it all, that counts!
The following user says Thank You to TheWizard for this post:
I hope you are being sarcastic. This poor man is doing everything he can to make sure the rich getting richer. I apologize, he is not work for rich, in fact he wants to destroy the rich. He only care about the ultra rich, the big mega banks and unions.
Yes, he did inherited the problem. It's the policy of Bush administration created this mess and it took Bush 8 years to do the damage. With Obama, it only took him 18 months to do twice what Bush did. He is handing out bigger "stimulus" that does absolute nothing. All the "changes" he promised on his campaign, he did none. He promised to withdraw the troop and he sent more. All the troops that are coming home from Iraq will send to a new mission in Afghanistan.
Well, I have to be fair. I have to give Obama some credit. He did make history. During our short 5000 years of human history, there are always 3 class of citizens: the rich, the middle and the poor. Obama created the 4th class: the dependents or the permanent unemployed welfare class. Now people who does not need look for work to get free food, healthcare, dental and a roof over their head. I am not talking about shelter. These are newly build/renovated modem apartments, that cost 3 to 4k/month. These welfare class get it for pennies. This also included people who don't get unemployment and get food stamp instead.