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White House seeks to stimulate jobs
A job seeker looks at job listings posted at the East Bay Works One-Stop Career Center in Oakland, Calif.
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TEXT OF INTERVIEW
Steve Chiotakis: The slow economic recovery isn't doing anything for unemployment in this country. The Obama administration is looking for ways to turn that around. Let's check in with Marketplace Washington Bureau chief John Dimsdale, with us live this morning. Good morning John.
John Dimsdale: Good morning Steve.
Chiotakis: So yeah, why is the White House focusing on ideas to stimulate jobs?
Dimsdale: Well you know the September unemployment report was worse than expected -- 9.8 percent is a 26-year high. And in his radio address over the weekend Obama called that a sobering reminder that progress will come in fits and starts.
President Barack Obama: That's why I'm working closely with my economic team to explore additional options to promote job creation.
Chiotakis: Well John, so what are Mr. Obama's advisers thinking about doing?
Dimsdale: Well The New York Times reports that the administration might revive the idea of giving businesses a tax credit for every new employee. That was considered at the beginning of this year, but it didn't fly in Congress because of concern that companies might fool with the numbers -- maybe lay off people, then rehire them just to get the $3,000 tax credit.
The White House is also possibly proposing expanding the number of companies that are allowed to deduct more of their operating losses -- deducting five years' worth instead of the normal two. That was a break given to small businesses earlier this year, but now it could be expanded to help out larger companies and maybe stimulate some hiring.
Chiotakis: And what's happening on Capitol Hill on the jobs front?
Dimsdale: Well the Democrats are considering extending the $8,000 tax credit for first-time homebuyers, which would expire at the end of November. And the extended employee benefits will end in January unless Congress decides to renew them, that's always popular going into an election year. But it will cost as much as another $100 billion.
Chiotakis: All right, Marketplace's John Dimsdale joining us from our Washington bureau. John, thanks.
Dimsdale: Thanks Steve.
"GOVERNMENT STIMULUS PLAN & FUNDING"
I like many other AMERICANS have been giving this matter a lot of thought over the last few years and I feel that I have come up with a VIABLE Idea that may help and here it is:
( I would like to start by saying that I normally don't like to see government involved in running private businesses..BUT THESE ARE NOT NORMAL TIMES We are living in, so here is my plan that I feel would help ALL OF US and remember "UNITED WE STAND & DIVIDED WE FALL " )
The Government can invest in ALL OUR FUTURE by Purchasing Closed Down Manufacturing Plants across the U.S.A. and Rebuilding these Old Plants to meet the Current and Future Specifications to make them 100% Green House Energy Efficient and put AMERICA BACK TO WORK ! ! Making us THE MANUFACTURE LEADERS IN THE WORLD AGAIN ! !
Sounds Expensive and Complicated NOT ! ! !
My Plan is to simple uses common sense and is Cost Effective.
1. Instead of making the current folks that are currently on UNEMPLOYMENT go out and spend money on gas looking for a job that 100s of others are looking for, send the unemployed to work at these old plants to help upgrade them if they choose to do so.
MAKE THE UNEMPLOYED A PRIORITY..Give them the choice to work at these Plants or continue to look for other work give them the opportunity to work at these plants to manufacture new USA PRODUCTS when the plant is in operation and offer NEW WORK PROGRAMS ! ! , that have never been offered before. ( I discussed my NEW Work Ideas in a different Article )
Pay the Unemployed a supplemented amount less their unemployment amount & feed them at these new plants & WATCH how many PROUD AMERICANS sign up for this Important Job to rebuild these OLD PLANTS To new GREEN & BADLY NEEDE MANUFACTURING Plants. ( Some Of These New Manufacturing Plants can be built to GROW ORGANIC FOODS that contain no Pestisides )
Some will be manufacturing Solar Panels and other Green Products)
The Benefits are a no Brainer..WE CAN DO THIS and make it pay off for all of us and after these New plants start to make money the government funding that was spent to revamp these plants will be the first to be paid off ! !
All of the full time employees that decide to stay and work at these plants full time five years or longer will be given the opportunity to own part of these plants to either keep their shares or sell them to the Corporation that is running these plants after the government is paid back. ( I estimate it would take five years to pay the government back and this would get them out of the picture. In the mean time unemployment would drop and the folks who work at these plants will be paying taxes and have jobs !
A WIN WIN SITUATION FOR EVERYONE ! ! WINNER WINNER CHICKEN DINNER ! !
Stay Cool, Hope this helps ! !
Michael V. Caldwell
Buy america is just a dream to stimulate the domestic economy. everyone knows the free trade will benefit the domestic consumers which will directly be the income-down persons' subsidy. and trade-protection only give the rent to the domestic produces not the commonly citizens.
Such tweaking may have some short-term positive effect. For long-term effect, go to any economics textbook and look up "multiplier"; to create US jobs, we have to spend, and respend, money inside the country. Individual consumers must realize that "buying American" has real consequences. Why would we want to stimulate the economy of China?
For those looking for employment during these troubled times, research is key to landing the right job. Many publications show different categories for the best companies to work for. Also, another worthwhile site is SalaryFor.com http://www.salaryfor.com/
which has a huge database of actual salaries that companies are paying for different positions as well as career advice and job listings. You can post your own salary or view others for free.
