Just who is responsible for massive and lingering unemployment? July 7, 2012 by Kevin Pennant
Let us think about what job creation entails first. For a position to be opened the entrepreneur or senior management of a business or large firm must perceive this particular risk minimally. There has to be an air of optimism for the future prospects of plausible demand for the service or product being sold. The cost of paying the employee must be outweighed by the increase in revenue to be collected in the near future. This is speculative. It is not industry specific; it ranges from healthcare to banking and even government. This sentiment is vital to the recovery and growth of the nation. Many voters believe this happens if we lower taxes for big businesses and for wealthy individuals or entities. Supposedly, this incentivizes and expands the economy through investments and or innovation. This actually suppresses innovation. Many voters also believe that less regulation gives the above-mentioned groups the flexibility to achieve their goals, which eventually will "trickle-down" to them; the remaining 90-95% of society. The theory goes that the effects of loose regulation and lower taxes will flood the marketplace with a supply of goods and services at lower prices. This is supply-side economics. This is the Republican mantra of fiscal policy. These policies however have led to many bubbles with devastating repercussions of crises ranging from industry busts to financial crashes and massive unemployment. Massive unemployment creates little demand for supply and eventually the supply becomes stagnant. However, many voters believe that this would work and this gives Mr. Romney the impetus to challenge President Obama on the so-called failed policies. The failed policies include saving the auto industry and making it unprecedentedly profitable, competitive globally and efficient. Another so-called failed policy is the Patient Protection and Affordable Healthcare Act which has promising balance of supplying the market place with more insurance options and coverage at lower rates with appreciable demand for equitable health care coverage, while sustaining Medicaid for those who need it. There is inherent job creation there.
Now no president is capable of or has the power to restore or bring about full employment. They can only inspire it and provide the optimism for it through leadership, and nudge it through stimulus policies like infrastructure projects that enable and encourage improvements that sustains a healthy economy like roads, bridges, environment, regulations and protections, etc. The ability to turn this economy around rests more so with Congress. The many local and state representatives that represent the broader public in government. These fools are not held to the same standards of higher officials such as the Executive Branch of government, and I don't know why. These fools, both Democrats and Republicans are not as visible, yet are quite destructive and have been incompetent because they are simply not qualified to legislate on our behalf. They are clearly being massaged by plutocrats and their lobbying efforts to maintain their oligopoly in the marketplace and discourage competition, regulation, and ultimately the American dream for many. They have not called for lower taxes and protections for the tens of millions that actually labor or on looser regulation for entrepreneurship; those that want to labor, they have only done this for the 1% and would like to continue that policy no matter how damaging. They continue to be subservient to the plutocratic suboppressors whom unbeknownst are being oppressed themselves. Most Tea Party activists are imbeciles, especially the ones who are not wealthy at all. Job creation is a game of confidence. Confidence in the way the game is written. Confidence in the leaders we elect to aspire, confidence in the goods and services we produce. Confidence in that our economic prosperity will be sustainable, and confidence that equitable access and justice in protecting it will prevail. Confidence for generations to come. Â