Gurus Were Ordered to Create Jobs Immediately
Dec. 04, 09 (Hamsayeh.Net) - Obama’s long awaited jobs forum was held in the White House, yesterday. US President spoke to 130 top business leaders and those directly involved in the economy.
The gathering was set as a brainstorming session with all participants to come up with creative solutions on how to create jobs for the citizens of that North American nation that is currently grappling with several major wars halfway around the world.
Latest numbers indicate that the government holds a huge $1.4 trillion of federal deficit and it is spending most of the available resources on never-ending wars in Iraq, Afghanistan, Pakistan and elsewhere.
Last year, the US government injected a massive $787 billion TARP fund to revive the economy. Many experts and ordinary citizens however complain that the money was spend only to enrich a group of financiers and a corrupt banking system that initiated the financial meltdown in the first place. Obama, nonetheless, defended his economic policies by saying his program helped pull the economy out from the disaster.
For an economy like the one in the US, which is primarily an industrial economy, the notion of peoples’ productivity is of immense importance. No recovery could be expected if people are without productive jobs. However, Obama has been saying the economy is recovering but statistics show nearly 200,000 jobs are diminishing every month across the US.
At the jobs forum Obama indicated that he wasn’t interested in a slow job recovery and he wanted private business to find ways to create jobs immediately. ‘We cannot hang back and hope for the best, what I'm interested in is taking action right now.’ Obama said. He also reminded everyone that government resources were limited.
The US official unemployment rate stood at 10.2 percent in October while the real unemployment rate is estimated to be twice as much if one is to include part-time, underemployed and those who have given up looking for work into consideration. Economic forecasters expect the November figures to be at about the same levels.
MSN - - - Wikipedia - Hamsayeh.Net