I'm fully supportive of President Obama's re-election. In 2008 he told us, "Yes we can." Not, "No we can't." And "Not maybe." He also told us to "keep the pressure on."
We need a jobs plan that fits the size of the problem. There are 15 million unemployed and 10 million underemployed Americans.
To get to the pre-recession level of unemployment, our economy needs to create 400,000 jobs/month. Last month the American economy produced zero.
* Unemployment was around 7% in 2009 when the President signed a $757 billion stimulus. Now unemployment is at 9.1% and he proposes a $400 billion stimulus. While I support the President, this plan is insufficient.
The President's plan will help - assuming Republicans help to pass it - but it is short of the need.
* The President relies too heavily on the market. If the market was the solution to the jobs crisis - with $2.5 trillion in private sector cash sitting on the sidelines and the lowest taxes since 1945 - the private sector would have already created the jobs needed.
FDR did it the fastest, most efficient and effective way - through the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), the Public Works Administration (PWA) and the Tennessee Valley Authority (TVA). FDR hired millions of workers directly to do the work in our country that needed to be done.
Had the President offered a $600 billion stimulus - at an average salary of $40,000 - he could have directly hired 15 million Americans that could purchase the goods that American industry can produce. It would have ended the "demand crisis"!
The unemployed should not have to wait any longer. They must be hired as quickly as possible. 2018 is too long to wait.
I had hoped the President would have done what FDR did - directly hire Americans and put them back to work immediately!