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MONDAY, NOVEMBER 23, 2009
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 OPINION 
5

Put New Stimulus to Work for Unemployed

Painful 'new normal' isn't good enough

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(Newser) – Economists are buzzing about a "new normal" of higher unemployment and wage stagnation post-recession, but Americans shouldn't resign themselves to a mediocre economy, writes Harold Meyerson. Downturns triggered by banking crises usually cause higher rates of unemployment for longer periods than normal downturns, but the cycle can be broken with public investment, Meyerson argues in the Washington Post.

To avoid a prolonged period of economic weakness and ensure continued American prosperity, the US needs to spend more federal funds on public works projects, the child-care and senior-care sectors, and "green" construction and manufacturing, Meyerson writes. Conventional wisdom holds that President Obama won't dare to ask for another stimulus, but New Deal-type projects to subsidize jobs have widespread approval even in places like Tennessee, which is hardly "a sleeper cell of socialists," he notes.

President Barack Obama holds a town hall style meeting in support of the economic stimulus package in Elkhart, Ind. earlier this year.
President Barack Obama holds a town hall style meeting in support of the economic stimulus package in Elkhart, Ind. earlier this year.   (AP Photo/Charles Dharapak, File)
King of public works porjects President Franklin D. Roosevelt is shown at his desk at the White House in 1933.
King of public works porjects President Franklin D. Roosevelt is shown at his desk at the White House in 1933.   (AP Photo)
President Barack Obama listens to Vice President Joe Biden speak about the roadmap to recovery during a Cabinet meeting at the White House in Washington.
President Barack Obama listens to Vice President Joe Biden speak about the roadmap to recovery during a Cabinet meeting at the White House in Washington.   (AP Photo/Pablo Martinez Monsivais, File)
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Are we to be stuck with enduring high unemployment and the across-the-board income stagnation that accompanies it? Is that our 'new normal?'
- Harold Meyerson

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5 comments
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SilenceDogood
Oct 7, 09 5:28 AM CDT
No way will WPA projects be enacted by Obama; the unions would never allow it. So will Obama throw 1 trillion at union only projects, sure, if we let him squander more money. Reply
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Fondue
Oct 7, 09 7:46 AM CDT
Dude seriously, "union only"? He's already thrown money at the private sector and look at what they did. At least unions are actually located here, and don't have off-shore accounts. Plus, they are run by patriotic and loyal Americans.
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IN RESPONSE:
SilenceDogood
Oct 7, 09 6:30 PM CDT
Dude, God I hate that name, its smacks of yuppie, entitled, white assholes. Try calling me you, my nom de plume or anything other than Dude. But to business, jimmy Hoffa and all his contemporary union bosses, and they do exist, are American Heroes? I think not. You are a social moron if do not understand the sticky finger personalities of many union bosses. This is not to say all are this way, some union officials are the salt of the earth, like all groups though it takes a few to make them stink.
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divetrader
Oct 7, 09 6:52 AM CDT
Obama should take all the money back from the banks and for give all mortgages and student loans. Help the people who need it. The banks took the money to buy other banks, they didn't help with peoples loans. Reply
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+1
schmidtkoff
Oct 7, 09 10:28 AM CDT
to our government in washington, here are a few ideas to get over the depressing slump: legalize pot and tax like cigarettes. create incentives to encourage development of “green jobs”. Invest in the development of alternative energy and offer tax incentives to such companies that are working towards such goals. Support these bills u.s. house bill, hr 1866, the industrial hemp act of 2009, and a missouri house bill, hb 1130, to allow us farmers to grow industrial hemp for: seeds, food, chemicals, oils, fiber, paper and more. It is ludicrous that the us can import hemp products and raw materials yet american farmers cannot grow the actual plant. a whole bunch of jobs could be created from the production of industrial hemp in many fields. Reply
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