The most recent unemployment number, 6.7% nationally, unchanged from the previous month. Among Millennials the number stands above 15%. One of the “news” pieces on Fox this morning was on how those in the 15% who favored President Obama have been failed by him (The Young Vote). Has the President failed the youth of America? Or, has and IS America failing the youth and for that matter everyone?
The Great Recession, does Fox and everyone else remember this devastating economic event? I certainly do and the lasting effects of the GR is seen in these numbers and will continue to affect our economy until economic, monetary and tax policies are reversed. Yes, President Obama has failed the youth and America as Bush II, Clinton and Bush I, all the way back to Reagan. Business in America, the favored group with the all to well-known “trickle down economics. Which despite the rhetoric from President Obama has continued for three decades with little on the horizon to hope for change soon. The tax system, with its low rates on the rich and business (with its tax breaks) would be a great starting point. Changing these breaks to encourage business to build factories and manufacture here and encourage EMPLOYMENT.
Everyone cannot be a professional! College and the youth who have been left behind. College that many of us have encouraged for our children, are there enough jobs for these youth? By the plus 15% unemployment number, one would have to say that answer would be no. With more college graduates each year, one can expect a higher number in the future. But where will they get a job if they don’t go to college? We make less in this country each year, so moving to the “labor” of the labor market a failed choice as well.
Raising the minimum wage, a great idea? Not if it is done on its own. Let me be clear, I favor a minimum wage increase ($15.00). It will immediately impact the lower paid workers and will benefit our consumer economy. Done alone, it will not have a lasting impact. Washington MUST promote investment in America, its manufacturing capabilities along with its infrastructure to move those products.
America’s decline, high unemployment and under-employment. How does President Obama, Washington fix? Politicians must acknowledge first that the 30 plus years of “trickle down economics” has created our current woes. Fixing it, not just one move will change our direction. The economic divide is the largest it has ever been and if allowed to continue we are well on our way to the next depression.