Not Enough Getting Done to Create Jobs Here at Home
Is 8.2 percent national unemployment the new normal? That’s a scary thought. But as the economic recovery has slowed, experts have started predicting that high unemployment is going to be around for a long, long time.
Last week, Federal Reserve Chairman Ben Bernanke testified in front of Congress that unemployment will likely linger above 7 percent until 2014.
There’s ample research linking health problems with unemployment. Being out of work is a stressful and emotionally draining experience. So, years and years of sustained high unemployment could very well lead to higher rates of health problems among the American public.
To his credit, the President has vocally supported creating new financial incentives to end the tide of outsourcing. And last week the Senate finally took up the Bring Jobs Home Act, which would end tax breaks for companies that ship jobs overseas.
Unfortunately — as always — Republicans stood in the way. They refused to end their filibuster of the Act and it failed.
With economic stagnation staring us plainly in the face, continuing to allow corporations to send jobs overseas without penalty is ludicrous. And as Sen. Majority Leader Harry Reid noted last week, the ideological problems emanating from the Republican party that drive opposition to new jobs policy begin at the very top, with its presidential nominee.
Mitt Romney was a brutal outsourcer while at Bain. That mentality would certainly guide his policymaking if he makes it to the White House.
Those truly concerned with creating jobs and restoring America’s greatness can’t give up. If corporations are going to continue to ship jobs overseas, then it’s up to policymakers to replace those lost positions with new ones.