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Can the Broken Job Market Be Fixed?

Can the Broken Job Market Be Fixed?Nearly three decades ago, as unemployment climbed in step with the deficit, President Reagan turned to the radio waves to defend his economic plan against charges that it wasn’t yet producing the desired results. ”You’ve also been told our program hasn’t worked,” Reagan said. ”Well, of course it hasn’t. It hasn’t really started yet.”

Sound familiar? Following Friday’s jobs report, President Obama said he was still working on “implementing the recovery act that’s already helped to bring back America from the brink of a much worse situation.” Vice President Biden summarized the administration’s message when he was asked about the thinking on a second stimulus: “We’re working on finishing the first one here,” Biden said. Reagan’s plan in 1982 was tax cuts, compared with the stimulus package in place today, but the message is similar: patience.

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Author: Edu411.org Admin
Publish date: October 17, 2009