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simplest economic numbers 30 million jobs (OR MORE)
The stimulus package that the HOPE Era that is also called the Obama Administration launching point must come down to the simplest of numbers~~~30,000,000 "net" jobs created in the U.S. market and a corresponding Global economic expansion.
This number represents the simple measure of MAKING UP for the deficit that the Bush Administration has "left behind", a curious phrase since the Bush Administration prided itself as the "born again" politico generation. This left behind quotient is the aggregate number that the eight years Bush Economics philosophy did not create in its governance or taking the total number of jobs created estimated to be a total of 2,950,000 jobs (shrunken by the estimated 2,670,000 job loss in 2008) and the failure to create the necessary other 11,500,000 jobs just to keep up with new entries into the job market due to population growth over the eight disastrous years. Their the first term the economy entered into a mild correction and then shuttered by 9/11 which took until the 4th quarter of 2004 to see any positive growth in the jobs arena. Then basically from 2005 to the final months of 2007 the US basically held even each quarter until the bottom fell out of the job market in 2008.
Actually it is believed that the U.S. economy must grow its jobs base by 1,800,000 annually just to incorporate the growing work force and that is expected to increase as a secondary new wave of mini-baby boomers (1987-1996) begin entering the market in the next few years while supposed retiring original baby boomers will likely seek to stay in the employment market due to a substantial loss in 2008 with their retirement savings and housing values.
So this stimulus package for all its imperfection must do this, make up for Bush's utter incompetence to the tune of 11,500,000 jobs (and possibly another 3,000,000 tacked on in 2009 as the Great Recession digs deeper) and also incorporate the expected growth of at least 17,000,000 through those eight years (hopefully).
Now a little historical comparison: Bush-43 created 2.95M jobs (maybe), Bill Clinton created 23.00M jobs, Bush-41 created 2.5M jobs, Reagan created 15.5M jobs, Carter 10.5M jobs, Nixon/Ford 11.5M jobs, JFK/LBJ 16M jobs and Eisenhower 3.5M jobs (with about half the population). Truman 8.7M and FDR is credited with a growth of 15.7M, (5.5M '33-'37, 3.3M '37-'41, 7.4M '41-'45). The issue with FDR was that he still did not make up the entire net job loss of Hoover until after 1940.
Right now I would take 23M jobs over the eight succeeding years but that is still short 7M jobs. Whomever is saying that FDR didn't bring us out of the Great Depression of any Republican Presidency knows about the economy is absolutely uninformed or plain stupid.
This number represents the simple measure of MAKING UP for the deficit that the Bush Administration has "left behind", a curious phrase since the Bush Administration prided itself as the "born again" politico generation. This left behind quotient is the aggregate number that the eight years Bush Economics philosophy did not create in its governance or taking the total number of jobs created estimated to be a total of 2,950,000 jobs (shrunken by the estimated 2,670,000 job loss in 2008) and the failure to create the necessary other 11,500,000 jobs just to keep up with new entries into the job market due to population growth over the eight disastrous years. Their the first term the economy entered into a mild correction and then shuttered by 9/11 which took until the 4th quarter of 2004 to see any positive growth in the jobs arena. Then basically from 2005 to the final months of 2007 the US basically held even each quarter until the bottom fell out of the job market in 2008.
Actually it is believed that the U.S. economy must grow its jobs base by 1,800,000 annually just to incorporate the growing work force and that is expected to increase as a secondary new wave of mini-baby boomers (1987-1996) begin entering the market in the next few years while supposed retiring original baby boomers will likely seek to stay in the employment market due to a substantial loss in 2008 with their retirement savings and housing values.
So this stimulus package for all its imperfection must do this, make up for Bush's utter incompetence to the tune of 11,500,000 jobs (and possibly another 3,000,000 tacked on in 2009 as the Great Recession digs deeper) and also incorporate the expected growth of at least 17,000,000 through those eight years (hopefully).
Now a little historical comparison: Bush-43 created 2.95M jobs (maybe), Bill Clinton created 23.00M jobs, Bush-41 created 2.5M jobs, Reagan created 15.5M jobs, Carter 10.5M jobs, Nixon/Ford 11.5M jobs, JFK/LBJ 16M jobs and Eisenhower 3.5M jobs (with about half the population). Truman 8.7M and FDR is credited with a growth of 15.7M, (5.5M '33-'37, 3.3M '37-'41, 7.4M '41-'45). The issue with FDR was that he still did not make up the entire net job loss of Hoover until after 1940.
Right now I would take 23M jobs over the eight succeeding years but that is still short 7M jobs. Whomever is saying that FDR didn't bring us out of the Great Depression of any Republican Presidency knows about the economy is absolutely uninformed or plain stupid.
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Jobs while important are not sacred. Automation and technology can leverage productive work (such as a farm worker being able to feed 100 people).
If we work less but are happier (economically sound, in this context) without being deluded, is that a bad thing?
January 11, 2009 9:16 PM | Reply | Permalink
No I am with you, RWN, you have confirmed what I had already thought I had read. Except your figures and your history is better.
Good post.
January 11, 2009 11:23 PM | Reply | Permalink
You know people are missing something by not looking at your short post. I do not think people like numbers. But these numbers are of the utmost importance in contradicting the bullshit being propagated by the outgoing administration. And more importantly how they should guide us in enacting the new stimulus package and other legislation to follow.
January 12, 2009 1:05 PM | Reply | Permalink
JOBS-
Rebuilding our roads, BRIDGES, and schools.
Jobs helping conserve and rebuild our national parks and bike trails.
Retrofitting plants to become more green.
Building wind farms and placing solar panels.
Retrofitting the auto industry to produce wind turbines and other green tech.
In government sponsored day care centers and as nannies for those who so choose (see Denmark).
Teaching Pre-K, perhaps incorporated into the above.
Going overseas as aid workers, particularily focusing on Africa, the Middle East, and South Asia.
Restructuring our medical systems and records.
Redesigning and rebuilding our electrical grid.
Allowing all access to broadband internet.
Training workers for new fields of work.
And how about a payroll tax cut for those that make under $60,000? Also, emphasis on the job training, which I mentioned above.
Finally, a bank holiday to figure out who's solvent and who isn't.
January 12, 2009 1:38 PM | Reply | Permalink
Joseph. Very, very good.
Send your resume to the Obama Team today!!!!!
Send your comment directly to your Congressional Representatives, today.
January 12, 2009 2:10 PM | Reply | Permalink
Done and done. I also sent an email structured around this comment to Pelosi and Reid, Feingold and Sanders (the latter two since I think they actually are open to new ideas).
January 12, 2009 3:26 PM | Reply | Permalink
Very very good. Give me permission and I shall do the same in Minnesota. Giving proper credit of course.
January 12, 2009 3:30 PM | Reply | Permalink
I'm in MN myself, but by all means, please do. We can give Amy a double-whammy.
January 12, 2009 3:42 PM | Reply | Permalink
Oh, I also emphasized food stamps, extending UI benefits, aid to states, a payroll tax holiday (as opposed to the "cut" typo above) and of course infrastructure in my letters, as well.
We should demand bang for our bucks!
January 12, 2009 3:45 PM | Reply | Permalink
Good, thank you. I shall put your list, with additions on my hard drive and get the message out.
I will check out media and some other political action blogs. I already promised Miguelito with regard to his health care.
January 12, 2009 3:54 PM | Reply | Permalink
I'm not much for math, but I did see that there may be lacking consideration for our growth related to immigration.
Now let me say, all my grandparents came through Ellis Island and I would like to know what we have done to replace that processing center? It seems our problem is inefficient immigration, not immigration itself.
January 12, 2009 3:23 PM | Reply | Permalink