According to the latest NBC report, the Labor Department stated that in August, only 96,000 jobs were created, well below the 250,000+ jobs needed to create a vibrant economy. The unemployment rate is now 8.1 % down from 8.3% as many Americans have simply just given up looking for work. The Labor Department stated that probably the Federal Reserve could implement some steps to remedy this situation, thereby increasing economic growth.
This crucial socioecnomic issue is one of the most timely subjects facing both presidential candidates this election year. People want to know how these candidates will improve this somewhat stagnate economy. Let us discuss this issue?.
I feel that, yes, some cut backs are inevitable to help the economy to rebound. I feel even more stronger about the government encouraging financial education and business ownership. Maybe if they'll stop meditating on the obvious and instead promote an entrepreneurial mentality things will change. Right now the job seekers FAR outweigh the job creators. Idealogy and self-sufficiency is the key.
PS. It's one thing to give up on the work force and do nothing. It's another to give up on the workforce to become your own economy.
Improving an economy is unfortunately not the center of debate this election.
It seems to me that Obama and Romney continue to bicker about women's health and gay marriages, neither of which are important if you're unemployed.
This country is trillians of dollars in debt, and Obama keeps spending it on social programs, and prevents ways of making up that debt by preventing increased student loan rates (even though federal minimum wage keeps increasing, and people are making more money now then they were 4 years ago).
Don't know much about the American economy but I was talking with a financial advisor today here in Sydney, Australia. He's of the opinion we've passed the crises period and are now into what is called the 'problem' period. He feels that the various financial institutions are now able to handle those problems and that things are going to steadily pickup world-wide. So, if he's right - and I certainly respect his opinion - things are going to get better...maybe slowly...but they ARE on the improve. That has to be good news.
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Sobering graph (WaPo article):
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