Letters

Letters 09-22-2014

Lame Duck Move

Twenty three states are controlled by Republican state legislatures and governors including Michigan. It is reported that Michigan Republicans are planning a sneak attack during the lame duck session to change the way electoral votes are allocated in presidential elections...

Lessons From The Middle East

“My enemy’s enemy is my friend.” That statement applies in the Middle East....

Student Athletes, Coaches Worth It

Are coaches at major universities overpaid? A simple Google search will show quite the opposite. These coaches do not get paid with taxpayer money. The coaches get paid by media companies, equipment companies, alumni groups, as well as revenue from ticket sales and merchandise...

Mute The Political Ads

Mark Sunday, September 14th as the opening of the flood gates, with TV political attack advertising. Fasten your seat belts until November 4th...

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R. Thomas Buffenbarger

 
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Monday, March 16, 2009

Saving American Jobs

Other Opinions R. Thomas Buffenbarger Saving American Jobs
R. Thomas Buffenbarger 3/23/09

In January alone, 598,000 jobs were lost. More than 200,000 of those jobs were lost in the manufacturing sector. The employment rate now stands at a staggering 7.6 percent. The global credit crunch has, finally and decisively, thrown the gears of growth into reverse.
This global recession is like a runaway tractor-trailer. Downshifting works, once in a while. But if the incline is too steep or the load too heavy, downshifting destroys the gearbox. Momentum does the rest. When the rig comes to rest--and it will, eventually--the wreckage is found everywhere.
The just-passed stimulus bill will repair some of the damage done to America’s economy. But a second stimulus package is needed. And revitalizing America’s manufacturing sector must be its highest priority.
America’s trading partners will not buy a trillion dollars in U.S. Treasury notes to finance our recovery while their own economies sink deeper into recession. They’ve already been burned badly once. Yankee traders sold them the toxic debt--the subprime mortgages, credit default swaps and collateralized debt obligations--that triggered this global recession. Selling them more commercial paper stamped “Made in America” is not a viable option. Our only recourse is to make things other nations will buy. So to stimulate our own economic revival, we must renovate our plants, install new machinery and hone the skills of our workforce.
America needs a 21st Century version of Franklin Roosevelt’s Works Progress Administration. Roosevelt put millions of Americans back to work on an emergency basis in 1935. He did so by creating jobs that would produce “permanent improvements in living conditions or that creates future new wealth for the nation.”
 
 
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