So, Government Can Create Jobs?11.03.10
According to Farheed Zakaria, the government can create jobs.
CNN: Should they be government investments?
Zakaria: That’s what’s produced the semiconductor industry, it was government investment. That’s what created the internet. Al Gore may not have created the internet, but DARPA certainly did. That’s the Defense Department venture capital group. And GPS, the technology that’s now fueling the next internet revolution, the mobile revolution, that was also a U.S. Defense Department project. Those are now producing hundreds of billions of dollars for the private sector, all started by government funding.
Not all governmental spending is bad. To make a blanket statement like that prevents you from adjusting to unique scenarios. Life, and the global economy, don’t always adhere to one particular ideology.
And people inherently get this. For all those screaming that they want government to stop spending, a strong percentage want them to do just that:
On spending priorities, 40 percent favored deficit-reduction, 35 percent “spending to create jobs,” and 19 percent cutting taxes.
Will be interesting to see what happens now with the divided Congress. I, for one, am very curious. I just hope that the American electorate won’t tolerate pure oppositionism as the sole GOP political theory for the next two years. Americans deserve better than that.
I think the major issue is that people are out of work. Decrease the unemployment rate, and the worries about the national spending will go down. Not that we can ignore a $12+ billion dollar deficit; quite the opposite. But, something needs to be done in the short term to get our consumer-based economy moving again. Plus, we can reform the entitlements while at the same time investing in job growth. We could, in theory, cut spending and also spend at the same time.
Because, like I said: not all spending is bad.