Hard to ignore the statistics. Over 4.4 million job losses this recession, 742,200 in March, 651,ooo in February and no end in sight. Put that figure next to the all the money tossed about lately–$173 billion floated to AIG, the $30 billion that GM has tapped in to, or the whopping $700 billion Troubled Assets Relief Program (TARP) or President Obama’s $787 billion stimulus package. Contrasting the two sets of statistics makes me wonder what the hell is going on?
To anyone who reads this blog, please help me answer these questions:
1. Why are we throwing big money at bad debt while we are blindly and willingly allowing the American worker to lose their jobs at record pace?
2. Does anyone in our government realize that until people who actually purchase things has a job in order to buy stuff, we will not have an economic recovery?
The math is all off. We are propping up corporations and protecting investors while the people who really do spend money and need their money to live are losing their incomes. Here are my suggestions:
1. Investors do not deserve protection from bad investments. It is called “risk” for a reason. Sometimes when you take on “risk” the results are less than desirable. We have created a welfare state for the investor class. How ironic.
2. The government needs to provide more stimulus for the innovations of small business. They are the real job creators. Interesting to note that two hours after I posted a blog on this subject, President Obama added $16 billion to small businesses as stimulus.
3. If your business has been so poorly managed, for example GM losing $82 billion in four years, to the point where you need government aid. Uncle Sam is here for you. Three conditions: First, the entire Executive Team and the Board of Directors must be replaced; Second, all employment contracts are null and void–Mr. Executive, you get the severance package everyone else gets; Third, we will help you decide who replaces these people.
I wonder if anyone would want a bailout then?
This year the joke is on the American Worker struggling to keep their jobs and pay their bills. It is too bad these people are being punished for the irresponsible behaviors of others. It is worse, because our government “of the people” and “by the people” is ignoring “the people” that make our economic engine go! Here’s hoping that next year we can all look at this and smile–I am concerned we won’t be laughing yet.