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The coming depression blog | June 24, 2019

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American Jobs Act : Will $447 billion help?

The devastating effects of the worst financial crisis in the U.S. and the world has ever seen, has left many Americans unemployed. Most of them are on the verge of bankruptcy while others migrated to other shores, hoping for a better future. In early September 2011, USA President Barack Obama unveiled his long-awaited plan to revive the economy. The American Job Act, currently before the U.S. Congress, employers would be subject to EEOC discrimination claims if they do not hire a candidate without a job based on the fact that they are not currently employed. Like many entrepreneurs and managers, I have serious doubts of the American Job Act will produce many jobs in the United States. Obama wants to extend and expand the payroll tax cut that went into effect for employees this year.

There are 13 months before the next election, and I agree with the president that you all need to do your jobs today. That’s what you are hired you to do. Please listen to this small business owner in sight. His salvation is in the American Jobs Act, the $ 447 billion president’s proposal to revive the labor market with a combination of temporary tax cuts and federal spending is pumped. Obama’s proposal for American Jobs Act has a strong focus on the launch of major infrastructure improvements, the hiring of teachers and provide tax credits to companies that hire the unemployed. The idea, said Obama is “putting more people at work and more money in the pockets of working.”

I’ll give credit to the Tea Party for sounding the alarm on growing federal debt, which will affect the major economic problems like unemployment, if left unattended. The notification of Employment Acts was delayed  in controversy when the bill would be presented to Congress and to the American people. Even if you do not consider applicants who are unemployed, the pool of candidates would be cut to a manageable size, it is not smart enough in terms of branding. Unless the mark is a ruthless and cold working condition, it should cover all the candidates.

The reduction plan has been used as payment for the bill passed. Entitled “The American Jobs Act,” which is involved in the proposed tax cuts for workers and employers, there is aid for those who cannot find work with an allowance to be spent on education and infrastructure. If we pay 447 billion dollars and produce 1 million jobs, we will pay $ 447,000 per job per year. These had to be awfully good jobs. Too good to be true. The law of the president and his counterpart in New York would make this kind of bias, illegally. Will it be lost? Will the employers take whosoever is in the market, unemployed?

The Republicans have a plan for economic growth and job creation – Plan for America’s Job Creators. Its focus is primarily to remove government barriers to private-sector job growth. I guess we’ll never know if Mark Zandi’s economic forecasts comes true. Finally, the payroll tax reduction sends the wrong message about the social security / rights issue. What we hear and what we can make out is this: “Let us show that we are serious about solving the problem by cutting its support and funding for half a year.” I do not think so. “Excuse me if I’m not more confident in the direction of the economy, and the ability of our political leaders to put us on solid grounds so we can go about our business, hire more people, spend more money and help the baby grow up.”

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