WHY PRESIDENT OBAMA’S PLAN WILL WORK
There are many necessities that need to be satisfied to get the American economy back on track. Chief among them is the need to decrese unemployment. This action should be the purview of corporations and small businesses but since these entities now are more concerned with gleaning as much profit as possible from the current work force, while paying out as few benefits as possible, it is up to the government to push the task forward.
By injecting 100 MMM into infrastructure projects and by cutting the payroll deduction to 3.1%, demand may be increased to the point that by July 2012 unemployment will be decresed to 7.5% and growth in Q2 will rise to 2.5%. This demand in consumer goods should force coroporations to hire more people. Instead of a double dip recession, a double dip recovery could manifest itself by Q1 2013. Our projections at TED-OG show that US economic growth in 2012, if this plan is not scuttled by the GOP House, could be as high as 4%.
What is needed is less concern about “debt” and more focus on what really drives the United States economy– consumers consuming.
Carlton Pryor, D.S.V.E., O.Q.H.[Econ.].
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