Kudos to anyone reading who knows the major piece of President Obama’s Jobs Act:
a huge tax cut, focused on middle income people, sufficiently large to boost demand in the American economy;
money targeted to infrastructure spending, and hiring teachers, police and firefighters.
Our economic problems right now are problems of demand. There is “insufficient aggregate demand”. They way to solve this, which has been the successful approach since the 1930’s, is more government spending. Alternatively, “spending” by reducing the taxes of those who will most likely turn around and spend the money. (That is, the poor and the middle class.)
Arguably, the reason the American economy has, relatively, sucked since 2001 is because the tax cutting has favored the extreme high end.
The tool necessary to get the economy moving is sitting in Congress. Time for them to get it going, or be voted out.
Hoofin 