Article today in the Washington Post (Oct. 29) about that some of the hardest hit areas in the country are those that have a Tea Party person as their Representative in the House. The area mentioned was in the south just north of Atlanta. People were complaining that the economy wasn't going well. Well duhh, every attempt by Obama was met by the right in opposition. Their argument was spending money would raise the debt. Where were these people when the debt was raised to fund a ridiculous war in Iraq? Obama stimulus attempts were blocked all along. The only one that passed many economists said was too small. If the economy is going slow look at the cause. Money is not being spent like it should so the government has to stimulate the economy by infusing it. Infrastructure programs would make a world of good. I bet there are roads, bridges, sewer and water systems in that area that need repairing and new ones build. Such programs would employ folks and also add to the infrastructure of that area. Such roads, schools and the like are good for attracting outside business, but to build these the government needs to spend money to do such projects. But all such programs were blocked by the Republicans saying they would raise the deficit. When money was at an all time bargain to borrow with low interest rates it makes sense for the government to spend money to build projects that would also create jobs. It would work. The stimulus that did pass was shown to generate around a million jobs nationwide. More should have been done. But the Republicans tried their hardest to make all attempts to help the economy fail.. They didn't want Obama to look good at any cost, Even if it hurt the country, and if businesses shutting down.
They talked to a man whose business of high end meat selling for Barbecuing was going out of business since he couldn't get loans from the bank to continue. The bank was saying that some banking legislation passed (something like Dodd-Frank or the some such) hindered them from loaning him money so he was going out of business so he was blaming Obama for his failure. Well lets see where to start. Did this person really think that such a specialty store would actually be a success in the long run? He was having to take loans out to continue his business. Regulations or not no bank would lend you money if you needed cash to continue to operate when your business is failing. Very few specialty stores make it these days and that's even in a large city, not like in a smaller town where his business was operated. A large chain store opened in his area, he was doomed. Welcome to the world of Walmart taking over. Don't blame Obama.
The slow growth in the economy is partially due to the government not spending money that they should be to stimulate the economy.. Cuts in the government are hurting all areas. When business is not spending to generate new job growth or even to continue present jobs the government need to step in and start to spend. This has been blocked by Republicans.To create and sustain jobs someone has to spend money to do that. There has to be a demand for the private sector to spend money to make money. So who is left to generate jobs? The government.
Both democrats and republicans need to work together to spend money on infrastructure to generate jobs.
Yes I know I ramble.