Month: August 2010

IN THE RING: Debt or jobs?

This week’s question:  What is the bigger problem:  unemployment or a national debt spiraling out of control? Vic Backlund, former state representative— “This week’s question reminds me of the executioner who asks the person who is about to be executed:  ‘Do you want to die by hanging or by firing squad?’ “What I’m suggesting with the above sentence is that both our high unemployment rate and our skyrocketing national debt are significant problems that need to be dealt with. “I do think, though, that if we could add jobs to the economy, if the economy began to show robust growth, that would be the most desirable.  In other words, I believe the bigger problem is our high unemployment rate, with little prospect in the short or even medium term that this will change.” Art Bobrowitz, Compass Ross Consulting— “Unemployment and the spiraling national debt cannot be separated. We are not creating jobs and people have an unhealthy diet of negative net worth. From a health standpoint, the private sector is losing muscle tone while federal and local government flirts with an eating disorder. That is a recipe for disaster. “Speaking of recipes, businesses are not hiring, nor will they when they do not have reasonable numbers as to what the government financial food tab will be next year and several years thereafter. Federal and state governments are consuming dollars...

Read More