New jobs bill is destined for failure
Samuel Sherraden
Special to CNN
Congress has stripped the jobs bill of the reinvestment in America's infrastructure that would put people back to work and make the country more prosperous in the long run.
Instead, the bill relies on tax credits that are too small and too temporary to make a dent in America's high unemployment.
The House of Representatives passed a relatively strong bill in December, which included $48 billion in infrastructure spending. Now the House and the Senate have adopted a bill that consists primarily of a payroll tax deduction for employers who make new hires and keep them on for a year. The original House jobs bill was $154 billion. The new bill is one-tenth the size.
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Filed under: Job Market |
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The American Society of Civil Engineers estimates that $1.6 trillion is needed over a five-year period to bring the nation's infrastructure to a good condition. Establishing a long-term development and maintenance plan must become a national priority. With this in mind, I whole heartedly agree with Mr. Samuel Sherraden. Funding for the upgrade, repair, and or replacement of our Dams, Bridges, Electrical Grid, Sewers, Roads, et cetera is critical. Let's spend the money on creating real jobs, and try to avert some of the catastrophes looming on the horizon.
If you throw a rock straight up into the air, best thing to do is move.
The aim is lost.
Why shoot a lost target?