Comments on: Unemployment Hits 14-Year High, U.S. Economy Has Shed 1.2 Million Jobs In 2008 http://wonkroom.thinkprogress.org/2008/11/07/job-loss/ Thu, 26 Nov 2009 16:42:01 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Nfilheim http://wonkroom.thinkprogress.org/2008/11/07/job-loss/comment-page-1/#comment-2824 Nfilheim Fri, 07 Nov 2008 20:43:59 +0000 http://wonkroom.thinkprogress.org/2008/11/07/job-loss/#comment-2824 Job loss is a huge threat to the economy, but I do not think the suggestions put forth like extending unemployment benefits or putting forward a green recovery and investment program will help so much without being connected to either service cuts elsewhere or higher taxes across the board. Where will we get the money from? I am getting a little scared with the deficit on pace to grow so much during this global financial crisis. Foreign countries are going to be less likely to continue loaning to the US if they are facing troubling times at home, too. To pay down the deficit and have extra money for the govenment to "prime to pump" with infrastructure projects, it might help to go through the federal budget *immediately* and start streamlining and cutting whatever can be spared. Take a lesson from the 1930's, it isn't about just spending massive amounts of dollars, it's about the most efficient use of dollars, and currently (there has to be) some cash the government is spending that would be better spent by private consumers than the government itself. The real question is what can be cut, by how much, and where can the saved money be best spent? Job loss is a huge threat to the economy, but I do not think the suggestions put forth like extending unemployment benefits or putting forward a green recovery and investment program will help so much without being connected to either service cuts elsewhere or higher taxes across the board. Where will we get the money from?

I am getting a little scared with the deficit on pace to grow so much during this global financial crisis. Foreign countries are going to be less likely to continue loaning to the US if they are facing troubling times at home, too.

To pay down the deficit and have extra money for the govenment to “prime to pump” with infrastructure projects, it might help to go through the federal budget *immediately* and start streamlining and cutting whatever can be spared.

Take a lesson from the 1930’s, it isn’t about just spending massive amounts of dollars, it’s about the most efficient use of dollars, and currently (there has to be) some cash the government is spending that would be better spent by private consumers than the government itself. The real question is what can be cut, by how much, and where can the saved money be best spent?

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