After thirty months in office, president Obama is saying that he is focused on creating jobs in America. The odd thing about that is the fact that he’s been saying that since he was on the campaign trail. So what’s different now than three years ago?
The whole idea (according to Obama) of getting the debt ceiling raised was to stop the country from defaulting on it’s loans as well as creating more jobs in this country. I find that hard to believe since one of the first things he did when he was sworn into office was to get an almost $1 trillion stimulus bill passed to do the same thing. Yes I know he tells us that the stimulus bill created or saved two million jobs. Analysts have looked into the facts of jobs created from the stimulus and it’s way lower than what the Obama administration has been reporting.
As you can see the stimulus and anything else that the administration is doing hasn’t created any jobs or even turn this economy around. It’s been reported that economic growth in America for the first half of the year (2011) is a staggering less than 1%. So how is giving the federal government any more money going to help?
The federal Reserve is now thinking of what they can do to stimulate the economy and get the country back on it’s feet. All I have to say about that is they are part of the reason why we’re in this mess. Manipulating the currency and controlling inflation artificially for the last hundred years hasn’t helped, so where should we think they’ll do anything now in the best interest of America. Chairman Ben Bernanke has touch base on starting a third round of bond purchases. The federal Reserve can also cut the interest rate for banks that hold excessive reserves as well as pledging to hold its assets at a record high and interest rates at record lows for a longer period, Bernanke stated.
As a nation, the only way we can create jobs and to get the economy moving again is to stop Washington from continuing has they have for many years. We need to cut back on government spending. When I say cut spending, I don’t mean cut Social Security or Medicare. Those programs are not the main problem. Yes they both have issues within the systems but reform is much different than cutting. Politicians are too concerned for their contributors as well as their own political careers. Doing the right thing in Washington would be political suicide. So if we want to save this country, we must remove each and every one of the politicians within the Beltway. Of course it will take years to do so since not all of them are up for re-election in 2012. If they’ve been in office for two terms, it’s time for them to move out of the way and let someone else try something else, or at least improve some of the current policies. Once we get Congress and the president to stop their excessive spending and let the markets correct themselves, we will continue to be in the same position.Tags: Economy, federal government, federal reserve, Government Spending, stimulus