Recovery impossible without policy focus on private sector

by YankeeJim | October 13, 2010 at 04:44 am

100 views | 0 Recommendations | 0 comments

No silver lining

You will not discover recovery until you first identify how to. So far, the “how to” is more government spending on public works. That will never work by itself. Needed is robust investment in an initiative that restores manufacturing industry among the nation’s leading employers.

Obama needs a program called Renewing Manufacturing America to stimulate real growth. Until that happens we will continue to limp along.

“Across the U.S., long recovery looks like recession

'No wonder Americans are pessimistic and unhappy ... We are entering a period of austerity'

.

By MICHAEL POWELL and MOTOKO RICH

This is not what a recovery is supposed to look like.

In Atlanta, the Bank of America tower, the tallest in the Southeast, is nearly a fifth vacant, and bank officials just wrestled a rent cut from the developer. In Cherry Hill, N.J., 10 percent of the houses on the market are so-called short sales, in which sellers ask for less than they owe lenders. And in Arizona, in sun-blasted desert subdivisions, owners speak of hours cut, jobs lost and meals at soup kitchens.

Less than a month before November elections, the United States is mired in a grim New Normal that could last for years. That has policy makers, particularly the Federal Reserve, considering a range of ever more extreme measures, as noted in the minutes of its last meeting, released Tuesday. Call it recession or recovery, for tens of millions of Americans, there’s little difference.”