Dismal reports concerning creation of jobs in America continue casting doubt on whether Barack Obama will retain the presidency. Fewer than 100,000 new jobs appeared in May following a similar total for April. Mitt Romney proclaimed that if he was president millions of new jobs would emerge. He blamed Obama’s negative attitude toward business and “government regulations” for these numbers. Of course, Mitt never actually explains which “government regulations” caused business to avoid hiring,
Wall Street reports large increases in profits for those who have money. Business is sitting on over one trillion dollars in their accounts. Why? First, business prefers investing in technology rather than humans. Second, business prefers sending jobs overseas. Third, cut backs in government jobs adds to unemployment. Republicans prefer firing government employees as part of their strategy to create more jobs.
The Depression did not end by 1936. It required massive government expenditures in 1940 as part of getting ready for war in order to end the Depression. We need to rebuild our infrastructure, hire more teachers, policemen, etc.. to end this recession.