Kingkool wrote:Of you are viewing this after the election, why do you think they won? I personally think (and hope) Obama will be re-elected because Romney has no static opinion on anything, Gingrich wants to mine the moon for its resources (which are limited at best), and Santorum is a Christian, self-richeous nut job. Overall, the Republican party has become a band of homophobic, Christian, subtly and blaitently racist, nationalist nut jobs.
I certainly agree with the comments on the GOP and I hope Obama wins.
The election looks to be fought over the issue of jobs and it may be both sides have the wrong viewpoint. The economy has recovered by almost every measure except jobs. It is producing the same level of goods and services as before, but with something like five million fewer workers. My belief is that this phenomenon represents a structural change in the United States economy resulting from computerization, globalization, and reduction in the public sector workforce as states and municipalities eliminate positions. We may have, as Keynes indicated was possible, reached a new economic equilibrium at a permanent level of lower employment and a resulting lower level of consumption.
In that case cutting taxes and deregulating business—Romney's position—will have little effect on the job market. Business has plenty of cash on hand to expand and hire, but sees no need for additional employees with less demand. Romney cannot make them hire and we would wait through his term for the policies to kick in.
Nor will just continuing the present course and waiting it out—Obama's strategy—add many jobs either. (It may be the lesser of the two evils.) It commits us to a monthly job increase insufficient to meet the workforce population increase, let alone erase the jobs deficit.
Private sector jobs have seen some recovery, but public sector jobs have not and political sentiment in the country runs against them. Public sentiment opposes the pensions, benefits, and job security that have always been the hallmark of public sector jobs and kept them attractive even though salaries and wages were low.
If this analysis is correct, there is a solution, but one impossible in the current political climate. That would be to engage in a massive infrastructure renewal/public works program that would create jobs in the public and private sectors to repair and rebuild roads, bridges, prisons, airports, and schools.