
(Picture provided from www.flickr.com)
Between the period of 1969 and 1971 the unemployment rate grew by 1.6 million, but that was at the cost of more college graduates and the baby-boomers who were new in seeking for jobs. Today unemployment is higher as of a result that from 2008 to present 2009 more than 2 million jobs have been lost but not at the cost of more people seeking jobs.
I still believe that unemployment is a key issue in the American economy, but natural unemployment is normal if it's between 2% and 3%. An economic stimulus package would only add more to the debt that we are already in. China currently holds bond in the American federal banks, and a stimulus package may not create those jobs that would account for this debt. The way that America decreased its employment in the early 70's was by creating more jobs for the college graduates, and at that time there was more versatility for people to do new jobs because those previous one did not exist.
This economic bailout is trying to prepare itself for worser times while still trying to spend more to help give jobs. Yet, according to Times.com the economic bailout began by including "$780 million for pandemic flu preparation and $14 million for cybersecurity" but had to remove those two topics because they were found to be irrelevant.
According to the actual bailout document, some of the proposed programs to which the money will be given to are programs like infrastructure construction, agriculture, and energy and waste programs. The fact that programs that improve infrastructure are receiving money is a little deterring because it is now completely practical of how these programs will create more jobs. To hypothesize, if the improvement of roads and highways makes pathways more accessible for businesses and work, then people will spend more and therefore create jobs to supply those services. Yet, because many Americans are more focused on saving, investing their money into long-term investments, and pay off debt, then it would be quite impractical to develop better infrastructure that would indirectly encourage Americans to spend more of their money when they actually want to save them.
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