Uncle Sam’s Problems

One of the big problems inflicting America is unemployment hovering 9-10%. Obama turns left embracing Keynesian solution relying on government spending. Nowadays he is appealing the Congress to approve his second $447 stimulus through jobs bill. But, many cast doubt. Will it work after the failure of first $825bn stimulus?

Of course there is no silver bullet in this recent crisis. Keynesian did work in the past, but different era brings different problems and asks for different solution.

There are 2 matters ruling the possibility of the success of Obama’s jobs bill. First, technological progress kills jobs, and second, globalization spreads the jobs.