Obama's 2.5 Million Jobs Plan: Not Enough?

Economist says the President-elect's plan isn't ambitious enough.

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If the President-elect thought his 2.5-million-jobs-by-2011 plan was ambitious, he ought to think bigger--that's the message of economist Robert Schiller's recent NYTimes piece.

Schiller writes:

The goal is to add 2.5 million jobs, he says, by hiring people to improve our highways, fix up our schools and do other infrastructure work around the country. All of that is fine, but it does not represent a commitment to full employment — providing a job for everyone who is willing to work. As a result, confidence remains abysmal.

If the new president had a target of full employment, and if Americans believed that he could reach it, the confidence problem could be quickly solved.

That goal certainly gave people a lot of confidence when Kevin Kline ran the country.

Remember this speech?

Dave: From today, l'm making it the responsibility of this government to find a job for every American who wants one. If you've ever seen the look on somebody's face the day they finally get a job, I've had some experience with this, they look like they could fly. And its not about the paycheck, it's about respect, it's about looking in the mirror and knowing that you've done something valuable with your day. And if one person could start to feel this way, and then another person, and then another person, soon all these other problems may not seem so impossible. You don't really know how much you can do until you, stand up and decide to try.

Of course, these days, it is also very much about the paycheck.


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