- #36
mheslep
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Roosevelt only showed that the government could create government jobs, not that it created net new jobs for the country at large.
mheslep said:One in six now, working directly for some level of government.
http://www.independentsector.org/PDFs/npemployment.pdf
mheslep said:Though the foreign purchased share of US debt is increasing, the majority of US debt is still held and purchased by US citizens and entities, and the majority of that US share comes directly through the investment of the US Social Security trust fund.
http://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt_ann2007.pdf
In any case, whether the capital investment pool diverted to the US government is domestically sourced or foreign, that capital is not then available to create jobs in the private sector.
And they could survive without the government contracts?drankin said:But those are private contracts. My company does a lot of military aerospace work. I don't think that necessarily counts. I'm more concerned about working directly for Uncle Sam. Excluding military.
True, but the US still purchases a large chunk of its new debt offerings through the Social Security trust fund.Ivan Seeking said:What matters is not who holds the debt we already have. It is who finances additional debt.
Printing more of a deflated currency won't buy any extra jobs....Also, we can still print more money.
http://change.gov/newsroom/entry/2_5_million_jobs/President-elect Barack Obama today announced a bold initiative to save or create 2.5 million jobs in the next two years.
I have already directed my economic team to come up with an Economic Recovery Plan that will mean 2.5 million more jobs by January of 2011 –
mgb_phys said:And they could survive without the government contracts?
I'm not saying it's bad - but the government paying Boeing to build the ISS or General Dynamics/Raytheon to build aircraft carriers is exactly the same government works project as paying people to build the Hoover dam.