Quote:
Originally posted by KirkVining
And what's a "jobless recovery"?
|
Ask a Canadian about it. We've been in one for years and years. Despite economic growth leading the planet, we've been barely able to get unemployment below 8%. Canadian people have not shared in the benefits of the "economic miracle" that we've been in since about 1995. It's better than the 12-14% unemployment we had previously, but still stinks.
What have we done to counteract the "Jobless Recovery?" The number one strategy that our gov't has employed (punny, huh?) since 1994 is tax cuts to corporations. "Trickle down" they called it. Guess what, nothing has trickled down. We've cut corporate tax rates to near zero, and jobs have not come. Only gone. Companies did not keep their productive capacity here despite their statements that deep tax cuts would do just that.
The jobless recovery has benefits to business. Thanks to high unemployment rates, there is a sizable pool of labour that keeps wages stagnant, no matter what happens with inflation or other measures of cost-of-living.
What can Bush do? If he keeps his "business" interests happy, jobless rates cannot fall. But, you Yanks are pretty sensitive to such matters come election time. We Canucks have become "conditioned" to expect perpetual recessionary unemplyment figures. Bush has not managed to as good a job as his Canadian counterparts.