09/01/11 Where are the Jobs?
Lest we forget, Congress and the President in passing their debt ceiling legislation, didn’t do one thing about the major problem plaguing America: lack of jobs.
It matters very little to the average American whether social security gets cut today, when they aren’t even working to pay into it in the first place. It matters even less that a deal was averted to raise taxes on the wealthy and well-connected, since most of the twenty five million people unemployed today fit into neither category.
There was absolutely no mention of an extension of unemployment benefits, or even a Government jobs creation program (Whatever happened to those ‘shovel ready’ projects?).
Moreover, business still face uncertainty about the exact nature of budget cuts and tax increases. There could have been many outcomes to this scene in our national drama, but ending the show without finishing the tale was probably the worst dramatic decision since the invention of soap operas.
The politicians could have passed a real spending reduction… or a mixture of spending reduction and revenue increases. But to do neither and try to sell this to the American people as progress moves us out of the realm of mere drama and into the theatre of the absurd.