President Obama took some hits recently from his on the road speeches about the economy and his claims about the Republican’s lack of interest in meeting halfway on meaningful job creation legislation. It may be difficult to do much to create jobs, although allowing energy exploration on federal land is one way he should consider. The fact is, our glide-path out of the Great Recession won’t just be bumpy, it very well may be bumpy for a long time. A Republican Party devoted to seeing this president NOT succeed is behind much of a dormant congress. By the way, the approval rating for Congress is 12%. The president’s job approval rating on the economy is around 45%, not that great either.Speaker of the House, John Boehner won’t come to any rescue since he’s a captive of his own extreme right-wing members
The ugly fact is, we may be witnessing the new normal. George Will made a point of how quickly jobs came back after the 1982 (Reagan) recession, but the job market back then wasn’t all that great until after 1984. The facts are different now as global competition is simply a greater force we have to contend with now. The other fact is more of a problem we may not be able to solve anytime soon: corporate profits are at record highs, but they’re not creating jobs to reflect their sky-rocketing profits. This is true because of several factors: they don’t feel confident about the economy, and because of the recent Great Recession, they have learned to do more with less. When the government has to come to a virtual cliff every time we have to finance basic spending on essentials, why would corporate America feel confident about taking risks? This never happened much in the past, but now with the extreme right-it’s become a way of life in Washington D.C.
Millions still unemployed may never get back jobs at the pay rate they once had. Many industries may not hire at the rate they once did. You can get a job at Wal Mart, but it won’t pay all that well, and the only course maybe to start low, and hope to make it into management. I do believe the landscape has changed-for good. The one downfall of that landscape is that the Republican Party has been taken over by extreme right-wing types who have no desire to work with the “opposition”. In other words, politics trumps saving America, and offering some hope to Americans.I believe this new and horrid political climate, coupled with the drab aftermath of the recent economic downfall, has created an environment where opportunities we once expected are no longer there.
America, and Americans may have to reinvent the economic engine. The labor movement has been slammed by forces such as the Reagan administration’s efforts to vanquish unions, and the results seem like they won. Union wages didn’t help either as they became bloated at a time when foreign labor, by comparison was peanuts. Throw in free trade agreements, blessed by both political parties, and you have what we see now-a bleak terrain of limited growth for the middle class. As the opportunities dwindle, the cost of living does not. Higher education, healthcare, and energy can limit a middle class family’s ability to get ahead.
It’s a shame what’s happening to the American dream. Middle class wages are even more stagnate now than before, and who really knows what the real unemployment rate is anyway? I always thought that number was quite hazy. I know there are millions either not working or not getting paid what they used to. Many college graduates are in debt, and are back living with mom and dad. Many children now have to grow up in uptight surroundings as a result, and that is not nurturing. In the final analysis, Washington has to work together to at least try and help create a new model to deal with job opportunity in a more competitive world. Americans themselves also have no choice but to learn to survive and prosper. Don’t wait for our government to solve your problems. In many ways, their ability to make your future brighter grows dimmer every day.