Economist Dr. Sam Chandon
Originally by: Miguel de Arcos
Borrowing from Chief Economist Dr. Sam Chandon’s Midsummer Employment Outlook we are finally generating the proof to the notion we have been shouting from the rooftops for close to a year now; The stimulus money spent on job creation was spent incorrectly! ” The Bureau of Labor Statistics released the preliminary Employment Situation report for June last Friday. As expected, non-farm payrolls fell as 225,000 temporary Census workers completed their work terms. Across the public and private sectors, non-farm payrolls dropped by 125,000 jobs; the sharp decline in government employment was partly offset by a net increase of 83,000 private sector jobs.” If it is still unclear, the jobs the administration has claimed to have created were temporary(roads, census) or simply more government infrastructure. While those temporary jobs are somewhat needed, it is irresponsible for the administration to claim “success” in stimulating the economy when those jobs had a 6 to 12 month shelf life. The other foolish move is creating thousands more government infrastructure jobs in a failing economy. That is a kin to a private company hiring 100 new employees as they are about to declare bankruptcy… It just doesn’t make sense and sets the american public and investors up for failure as they start to bet on recovery.
Private jobs are sustainable. Private jobs create tax revenue to support the needed government programs. Private jobs create confidence, puts savings in the bank and food on the table. Invest in business, not government!
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