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Rep. Waters, Herbert on job creation, tax credits

07 Oct

So many problems – so little time. Republicans really screwed the country the last 8 years – and it is going to take far longer to recover from this mess than it took to create it.

This is a good discussion on The Morning Joe with Bob Herbert and Maxine Waters presenting their views on unemployment, job creation, and what should be done to stimulate the economy

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As discussed in an earlier post on President Obama’s Poll numbers, the economy is now the top concern of 88% of the electorate – making it a far more explosive issue than Health Care. Although real Health Care Reform will undeniably have a positive impact on the economy.

Unemployment numbers are staggering and without significant changes in a number of areas, there is little chance of turning that around anytime soon. In my opinion, one of the “low hanging fruit” to getting at least a part of the economy moving again involves federal contracting. What needs to happen is to break down the existing contracts to big corporations into small contracts. Indeed, by spreading the pie among numerous smaller competitors tens of thousands of new jobs are created. One immediate move would be to cap acquisitions at $25, $50, or $100 million unless there is a clear justification that a mega-purchase is the only way to perform a certain contract.

The second is what I’ll call a “Small Business Bailout”.  The big banks are starting to lend to the big companies (Xerox purchase of ACS, Emmerson/Avocent, 3M, Cisco, etc) – but none of that is filtering down to the small business level where the jobs are created. Instead of giving the banks another $750 billion – start a $750 Billion Small Business Credit and Venture Capital facility, specifically targeted at creating or financing viable, sound small businesses which create jobs.

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Posted by on October 7, 2009 in The Post-Racial Life

 

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