Getting the unemployment rate down from where it hovers at the official 10% rate, to a more normal 5% and below, is not going to be easy. Not with meaningless gestures from the Obama administration.
The unemployment rate is actually over 17% when you consider the truly unemployed. Not only those who still haven’t given up seeking a worthwhile job or are on unemployment income while it lasts. The truth is, the official unemployment rate is misleading.
To get job creations going, the economy must improve. That means psychology must get rosier. More money has to get into households. That situation is not improving.
You simply have to get more funds into the hands of the consumer. What will do that? Lower income taxes, fast. And productive private industry jobs, fast.
To produce jobs you must get small business starts going by cutting their taxes. And you have to cut government debt. Servicing that debt makes it impossible to keep taxes low or to make a dent in their reduction.
It’s really simple. The White House says it is doing it. But saving 1% as it actually proposes multi-trillion dollar deficit budgets is impossible.
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