Sunday, June 12, 2011
Creating Jobs - Infrastructure Bank
This is a great article on how to create American jobs AND upgrade our crumbling infrastructure at the same time.
"Around 24 million Americans are unemployed or underemployed (the latter in part-time jobs that average $19,000, half the median wage). If these people don’t find jobs soon, they will lose skills and work habits and become permanently unemployable, with grim consequences for their families, communities and the country. And if employment growth does not pick up significantly, tax revenue will stay depressed, unemployment costs will rise and the deficit will balloon well beyond current projections."
He goes on to say (rightly): "Washington needs to find ways to employ the millions of workers whose jobs disappeared with the housing bust. The simplest way to help them, and the country, would be to create a national infrastructure bank to repair and rebuild America’s infrastructure — which is in a shambles and ranks 23rd globally, according to the World Economic Forum — down from sixth only a decade ago."
Doing nothing is not an option. Cutting spending be itself will only increase unemployment and won't rebuild roads and bridges. Check it out.