Do you remember the 2008 tax rebate and stimulus-$168 billion? How about the 2009 $830 billion stimulus, cash for clunkers and homebuyer tax credit?
And don’t forget the 2010 and 2011 Social Security payroll tax cut intended for one year that became two and no doubt three?
According to an article in the June Money Magazine, we need 5.2 million jobs to get back to pre-2008 level and 4.7 million more to account for population growth.
I suppose things could be worse as some economists and politicians like to say, but when you still have to tout every new job created as a major accomplishment, things could be better too.
Better, worse, getting better … who knows? One thing is for sure though we’ve managed to accumulate a few trillion more in debt that somebody is going to pay off … some day.
Politicians are like weathermen, they rarely get things right as predicted, and they get to change their forecast at will and still keep their jobs. They need new bosses.
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