Government Needs to Buckle Down and Fight for the Fate of America
By Brittany Stepniak
Today, there are 8.7 million fewer jobs in the U.S. than there were in January 2008. By October of 2009, the unemployment rate hit its highest rate in 26 years- 10.1 percent. And we haven't come very far since then. Just last month, May 2011, unemployment was at a dismal 9.1 percent.
But what can the government do to facilitate employment growth?
Bill Gross, mamanger of the world's biggest bond fund at Pacific Investment Management Co. has a suggestion. He recently spoke out about this issue in an interview. According to Bloomberg:
“What we’ve been able to apply in the last 20 years is a financial based employment structure where the magic of finance and asset appreciation” generated jobs, Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt. “That model no longer applies. We need to go back to the manufacturing roots of this country as opposed to the financial roots.”
He stressed that it is unrealistic to think that the majority of unemployed individuals are going venture out into the world to create and capitalize on financial gold mines, like Facebook.
Instead, he suggests we get them working on products; manufacturing products the rest of the world needs and wants.
Creating jobs will lift a heavy burden off of our country's shoulders. It is arguably the number-one challenge we currently face as a nation, and it has been so since the start of the financial meltdown.
That burden is not only felt by the unemployed, homeless, and impoverished...it affects every single individual, like a domino affect, threatening the quality of living for all of us, our future financial security, and our united status as a world power leader.
Leaders in office who want to stay in office need to address this problem more creatively, more passionately. Whomever is elected in the presidential election of 2012 will surely be the one most intently focused on implementing sustainable job growth.
The educational system needs to be tweaked as well. Workers need hands-on skills now more than ever. Science, math, and internships for labor-work are key for getting where we need to go.
Students need practical skills, and quality experience putting those skills to use if our country is going to excel in competitive world markets. Gross wrote, "Philosophy, sociology, and liberal arts agendas will no longer suffice. Skill-based education is a must, as is science and math."
He explains why he believes a transition is necessary for success.
For the past few decades, the U.S. has seen an explosion of "wealh creation via financial assets" as opposed to wealth obtained through manufacturing achievements. As our nation falls more deeply in debt, Gross says we are also falling further behind other countries that have not abandoned the importance of manufacturing jobs.
We've lost touch with the art of using our hands to create and profit. But perhaps this is where the next greatest investment opportunities lie. Afterall, those are the roots this country originally structured itself upon.
If we want to continue thriving, we can. The more we see "Made in USA", the more chances we have to 'make it' through these tough times in the USA.
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