In a late breaking Washington Post story it is reported that The Obama administration is looking for ways to reduce uunemployment in the US. Political sentiments aside, this is reasonable since more prolonged unemployment will certainally stall recovery at the least and possible even push our economy into a double dip recession.
The double relief of a payroll tax holiday amd extended tax credits for R&D may or may not increase the demand for labor. The first does decrease, temporarily, the cost of labor for firms. Will it be enough to increase the quantity demanded? The incentive for investing in research and development is hopefully a grand effort to spur innovation and send the US economy back to the forefront of the world market on the supply side.
I hope this is enought to reduce the dismal unemployment rate. I fear, that due to particsan politics, a more agressive stimulus package would not pass. As a skepticle American voter, I fear that both political parties, due to incentives, will do their most to prevent the opposition from scoring any points vis a vis the economy prior to the mid term elections in November.
Readers, what do you think?
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As your's will be a thought that I take into my Project, but the "to little - to late" theme seems to come to mind. As a well educated, retired military veteran, I have been unemployed for over 2 years, except for a short stint with the Dept of Commerce - 2010 Census. I feel I'm a good people person and a great conversationalist on any level, but yet over 1000 applications and resumes later, NOTHING. Funny how my military record shows I have solid cognitive reasoning and excellent problem solving skills (flight engineer on helcopters 9 yrs & firefighter rescuman 8 yrs, emergency response proceedures when flying and constant life or death decisions in aircraft, structral and wildland fires). VERY FRUSTRATING! Thanks for letting me vent.
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