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Obama pledges new effort to spur job growth

By Michael D. Shear
Buoyed by a new jobs report that showed unemployment slowing, President Obama nonetheless used his radio address Saturday to pledge a new and aggressive effort to spur more job growth in the new year.

The address came a day after Obama visited to Allentown, Penn., and two days after he hosted a jobs summit at the White House. Obama said both events were aimed at highlighting the need for more action.

"For those who were laid off last month and the millions of Americans who have lost their jobs in this recession, a good trend isn't good enough," Obama said in the radio address. "Trends don't buy the groceries. Trends don't pay the rent or a college tuition."

The president is increasingly caught between mounting deficits and pressure from across the country -- and from his allies and some adversaries in Washington -- to spend more government money to stimulate job creation.

In the address, Obama pledged to err on the side of job creation, promising to unveil new government efforts on Tuesday, when he gives a speech on the economy at the Brookings Institution.

"In the coming days, I'll be unveiling additional ideas aimed at accelerating job growth and hiring as we emerge from this economic storm," he vowed.

Those efforts are likely to include the use of some money from the unpopular bank bailout to finance a jobs program, a top administration official told reporters last week.

But Obama made clear in his radio address that he would not let the short term need to fuel job growth come at the expense of his already ambitious long term agenda to reform health care and reshape other parts of the government.

"I'm not going to let up in my efforts to reform our health-care system; to give our children the best education in the world; to promote the jobs of tomorrow and energy independence by investing in a clean energy economy; and to deal with the mounting federal debt," he
said.

Critics have accused Obama of piling up debt as he expands the size and reach of the federal government, and they predict that the debt will hamper the very growth he says is necessary for job growth.

But Obama appears unafraid of that criticism.

"I didn't run for President simply to manage the crisis of the moment, while kicking our most pressing problems down the road," he said. "I ran for President to help hardworking families succeed and to stand up for the embattled middle class."

By Eric Rich  |  December 5, 2009; 6:00 AM ET
Categories:  44 The Obama Presidency , Barack Obama , Economy  
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Comments

A lot of job losses are the result of globalization. Corporations are the decision makers, but their decisions are constrained by competition - the company that doesn't match other's lower labor costs will disappear, and the jobs kept at home will disappear along with it. The only solution is regulation that constrains all competitors alike.

To restore American jobs we need to think strategically about how markets will change over time, not just at next month's jobless figures. I will suggest two measures:

Posted by: j2hess | December 5, 2009 4:13 PM
............................................................................................................................
Strategic thinking would be that this is the century of computer technology and American companies can not be allowed to simply directly export American jobs involving computers.

Strategic thinking would be that government must stop the job loss in computer technology so that American will enroll for careers in computer technology instead of avoiding these fields as dead with jobs simply being exported.

Strategic thinking would be that in the century of computer technology there will be no jobs for Americans if every job that involves using a computer and a telephone is directly exported.

Strategic thinking would be that globalization is economic suicide for America when it means overnight replacing Americans with the direct exporting of jobs.

And I assume that your idea of "regulation that constrains all competitors alike" indicates that you would support ideas like the following.

Congress can enact legislation to not allow American companies to bid for government contracts if they do not bring the jobs home.

Congress can enact legislation to not allow American banks and financial companies access to government funds if they do not bring the jobs home.

Posted by: bsallamack | December 5, 2009 5:26 PM | Report abuse

Lots of knee-jerk reactions here.

I agree with those who think that Obama didn't move aggressively enough to fund more immediate jobs creation in the economic measures of the spring. To be fair, some of the efforts where blocked (passing on funds to the states to keep their payrolls up), the administration didn't want to rush into it so fast they created make-work jobs that produced nothing of value, and unemployment was extended several times.

A lot of job losses are the result of globalization. Corporations are the decision makers, but their decisions are constrained by competition - the company that doesn't match other's lower labor costs will disappear, and the jobs kept at home will disappear along with it. The only solution is regulation that constrains all competitors alike.

Almost all economic advisors are behind globalization because it increases the aggregate welfare. But this is not the whole picture. It also increases inequality. Economists are used to testing theories by looking at the mean outcome, not at the dispersion of outcomes. So they provide incomplete analysis, hence bad advice.

To restore American jobs we need to think strategically about how markets will change over time, not just at next month's jobless figures. I will suggest two measures:

1) Slowing the pace of globalization to allow the economy and the workers more time to adapt. Your average 45 year old worker or the younger worker with only a high-school education is not suddenly going to retool herself for the new job opportunities created by globalization.

2) Lessening inequality by redistribution of profits towards investments in the infrastructure and education that will allow the next generation to compete more successfully in globalized markets.

Posted by: j2hess | December 5, 2009 4:13 PM | Report abuse

Most job creation comes from small business. How can Obama have a jobs summit without the NFIB or the Chamber of Commerce being invited?
Posted by: saw1
...................................
Most jobs comes from large companies.

Look at the 2 million American jobs that American companies have directly exported since 2002.

There is a shortage of 9 million American jobs and small businesses could never fill this need.

Congress either prevent the direct export of American jobs or this economy is dead.

IBM to Cut 5,000 Jobs; D.C. Area Largely Not Affected
By Kim Hart, Washington Post
Officials began notifying employees on Wednesday and throughout yesterday about the layoffs. Technology services giant is in the process of shifting a large number of jobs to lower-cost regions, such as India.

Posted by: bsallamack | December 5, 2009 2:57 PM | Report abuse

More wisdom from a man who's never had a job.

Posted by: covelomax | December 5, 2009 12:45 PM |
===============

George Bush is no longer president, my friend...


Posted by: demtse | December 5, 2009 2:26 PM | Report abuse

Most job creation comes from small business. How can Obama have a jobs summit without the NFIB or the Chamber of Commerce being invited?

Posted by: saw1 | December 5, 2009 2:10 PM | Report abuse

Bureau of Labor Statistics
In November, both the number of unemployed persons, at 15.4 million, and the unemployment rate, at 10.0 percent, edged down.

The health care industry has added 613,000 jobs since the recession began in December 2007.

Wake up America, the jobs of the 21st century are not the computer jobs being directly exported, but the jobs of the bedpan that can not be exported.

This Christmas buy a bedpan instead of a computer and start practicing at home for the American jobs of the 21st Century.

Posted by: bsallamack | December 5, 2009 1:40 PM | Report abuse

The direct exporting of American jobs that began in 2002 and has already cost over 2 million jobs lost has to be stopped.

Congress needs to recognize that there will never be jobs and a recovery if something is not done by government to stop American companies from simply exporting the jobs of the 21st century. Every Democrat or Republican who ignores problem is either a fool or a liar.

Congress can enact legislation to not allow American companies to bid for government contracts if they do not bring the jobs home.

Congress can enact legislation to not allow American banks and financial companies access to government funds if they do not bring the jobs home.

Posted by: bsallamack | December 5, 2009 1:35 PM | Report abuse

Obama better come up with a workable plan soon, or there won't be enough employed Americans to buy insurance policies and float his grand social experiment.

You know the insurance industry has got be totally freaking out. All those healthy Americans collecting unemployment and not feeding the insurance industry as Obama and Congress promised. But, should they really be surprised? The silver-tongued devil hasn’t been able to follow through on anything he promised to date.

It's obvious Obama and this Democrat Congress are playing hit or miss games – they talk a great line, but not one of them has a clue what they’re doing. They need to quit while their behind and back off so Americans can do what they do best - work and rebuild the economy.

And when the American workers have done what Obama and Congress can't, then Obama and Congress can resume debates about the joys of plantation living with the government as the overseer taxing anything that moves, even a spring breeze … that is if any of them are still in office.

Posted by: asmith1 | December 5, 2009 1:17 PM | Report abuse

More wisdom from a man who's never had a job.

Posted by: covelomax | December 5, 2009 12:45 PM | Report abuse

And all you Americans out there the financial firms want to thank you for all the billions from TARP or the troubled asset relief program. Why firms that returned 68 billion that they received when in trouble are so grateful to America, that they are now directly exporting more American jobs.

India may get $1 billion in IT outsourcing contracts: report
Reuters November 23, 2009
MUMBAI (Reuters) – Leading Indian outsourcers such as Tata Consultancy, Infosys and Wipro stand to gain contracts worth about $1 billion in the next one or two years as U.S. banks emerge from the TROUBLED ASSET RELIEF PROGRAM, the Economic Times reported on Monday.

The newspaper said JPMORGAN, GOLDMAN SACHS and MORGAN STANLEY that received approval to buy back government stake worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India.

If government wants to allow American companies to directly export the American jobs of the 21st century they should consider extending unemployment payments for the next 20 years.

Posted by: bsallamack | December 5, 2009 12:19 PM | Report abuse


New effort? That would imply there was an initial effort. When, what, how and which planet did this occur on? He has done nothing for Americans suffering from job losses. If you want Obama's help, you must change your name to John Pierpont Morgan, Marcus Goldman or Samuel Sachs. Obama thinks all Americans are stupid and will believe his untruths, no matter how outrageous they are.

Posted by: AugustWest1 | December 5, 2009 11:42 AM | Report abuse

Obama better do something quick for Americans - the way he and Pelosi keep raising taxes, those unemployment checks won't last long.

Of course, with all the millions of guest workers and illegals Obama and Nappatalano keep importing every month, there must be jobs somewhere......that Americans will never get.

Posted by: Patriot12 | December 5, 2009 11:04 AM | Report abuse

Promises jobs.
Same as a promise to spend money.
Answer to everything seems to be: spend more.

Doing the same thing over and over and expecting different results is the definition of insanity

Posted by: docwhocuts | December 5, 2009 10:04 AM | Report abuse

President Obama promised "Job Creation Ideas" when he passed $787 Billion of Stimulus and Obama said "Unemployment would NOT go above 8% if the $787 Billion Stimulus" was passed. ALL WE GOT were LIES, LIES, and FAILURE from Obama ACORN Head. DO NOT TRUST Obama ACORN the LIAR and FAILURE! More people are UNEMPLOYED because of Obama ACORN Head failed policies

Posted by: usausa2 | December 5, 2009 9:15 AM | Report abuse

This reminds me of my son.
I gave him $250 for a deposit on something and when he got the deposit back he bought something else with it.

Hey - that was my money!

It was bad enough to bail out the banks, when they repay I didn't say spend the money on something else - I want it back.

Posted by: RedBird27 | December 5, 2009 7:42 AM | Report abuse

Create JOB's!? - What is going on with these FED-Lover groupies! President OBAMA & CONGRESS know well that JOBS are #1!? - And Not just any ol'-jobs,- but $GOOD-PAYING Livable $Wage JOBS,-- like many of those in Manufacturing,- sent Over-SEAS,- by 'turn-Coat' U.S. Corporations!! This is Disgraceful America!! - OBAMA & CONGRESS knows what They SHOULD do, but won't!? - TRAITOR COMPANIES whom send Our $good-paying JOBS overseas, need penalized, and/or shut-down as enemies of the People!! - High fines, TARRIFFS, and TAX's placed on these un-American TURN-COAT Corporations, whom care more about $PROFIT, than U.S. Families' Lives, the Environment, and pushing SLAVE-LABOR on other foreign Workers!! -- So far NOTHING at all to freate Livable Wage new JOBS!! - ""NOTHING""!! - Just 'BAIL-OUT' the Criminals whom Caused the Economic Terrorist CRISIS!! - Remember VOTERS,-- to remove the INCUMBENTs in CONGRESS whom also became TRAITORS against the American WORKERS by $backing Banksters!! IF that $2-TRILLION that the Traitor FED / TREASURY gave the BANKSTERS was given to the Suffering CITIZENS to SPEND, then Our REPUBLIC's ECONOMY WOULD BE BOOMIMG!!! - But, 'NO', -now the B.S. Talk is about a few measily billion to assist a few job seekers to maybe create Slave-Minimum-Wage rehire position CRAP!!?? - 3rd Parties better "UNITE" and get over petty differences NOW! - WE-the-People need to get Rid of these TRAITOR RED's & BLUE's whom are $supporting the Thugs whom caused the CRISIS!! - These Globalist Banksters & their' $hired-help in Our government continue to play us all against one another!? "ENOUGH- SONS&DAUGHTERS of LIBERTY!! - The American Patriots are smarter than that CRAP!! - Some in CONGRESS better be preparing new Resumes soon,- because Your' treachery is being Exposed,- and the $Gravy-Traitor-Train is about to be deRailed! -- TARRIFFS NOW!! - and:- REPEAL the Criminal un-Constitutional 'FEDERAL RESERVE ACT' (reform is a sham) Immediately!!! - jward52

Posted by: jward52 | December 5, 2009 7:29 AM | Report abuse

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