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TALKING POINTS MEMO
It should be noted that cutting job losses is a long way from creating jobs. Job loss could be reduced by doing nothing, simply because at some point the economy will have rid itself of all the jobs it can't support. What matters is job creation. - TPR
It should be noted that cutting job losses is a long way from creating jobs. Job loss could be reduced by doing nothing, simply because at some point the economy will have rid itself of all the jobs it can't support. What matters is job creation. - TPR
1 Comments:
I would also be very concerned that the job losses may have been reduced by inordinate and unsustainable government spending. The bubbles got us addicted to a certain spend level nationally. If that level can no longer be supported by private sector "irrational exuberance" (FED chairman's words) then perhaps government is now partially fulfilling that function by massive bailouts. Even though this may be more supportable, in that it saves us from immediate catastrophe, it is both unsustainable and grossly unfair, since it rewards the true transgressors much more than the bubbles' victims.
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