Huffington Post: Opinion- Richard Eskow-Want Jobs? Recue Homeowners and Infrastructure Investment
It’s not very often that I agree with Richard Eskow but he’s right in a few areas. Two fastest ways to create more jobs and to double or triple. The amount of jobs we created in March, would be through Infrastructure Investment and Debt Relief. Bailing out people who are in debt, as a result of the “Great Recession”, not because they are wild spenders. But because they now own more money on their homes, then for what they paid for them. Because of the Housing Market and having huge Credit Card bills, as a result of being out of work for so long. To just purchase their Basic Necessities, if they were able to retire their debt. They would then have money to spend, Consumer Spending would jump. Leading to better Economic Growth, which would lead to Job Growth, to meet the new Consumer Demand. Mr. Eskow is also correct that the Recovery Act, was too small, he’s wrong about the Tax Cuts. They were all targeted towards the Middle Class, not all Tax Cuts that are passed, go to High Earners. Thats a lesson hopefully someday Progressives will learn. The Recovery Act should’ve been twice the size it was, with 500B$ in Infrastructure Investment. 500B$ in Tax Cuts for the Middle Class for Debt Relief and to encourage Consumer Spending. And for Small Business’s, as well as for State Governments.