Quote:
Originally Posted by tw
We know due to economic mismanagement in the 2000s (ie tax cuts for the rich, Enron accounting without any prosecution, etc) that we created a 2008 meltdown. History says massive jobs losses will occur in 2012. That is inevitable due to money games played and encouraged throughout the 2000s.
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2000s were a lost decade, but some, particularly the critics, obviously chose to ignore that.
Many economists see job growth returning by this summer, but that still wont address the long-term need to retool and restructure the economy on a much larger scale.
Repeating myself (from my link on the lost decade):
Most of the recovery money has yet to be spent (by intent) and is directed towards retooling the economy by focusing on developing new energy technologies, a national broadband network, wide spread infrastructure improvement, investments in health technology, investments in education...all critical if you're interest is looking forward to be better positioned to compete in a global economy in which we may have lost the competitive edge that we enjoyed for decades.
I still havent heard a better approach from the critics here...they just keep on bailing out.