SEARCH
Federal Budget Goes in Right Direction, Needs More for Jobs
The fiscal year 2011 budget released by the White House today “moves the country in the right direction…to get our economy back on track,” says AFL-CIO President Richard Trumka.
He says the proposed funding for infrastructure development, education, job training and green jobs are the right investments to make. But the $100 billion for job creation in fiscal year 2011 is not enough to meet what will be an ongoing need to address the jobs deficit.
While the nation’s mostly Bush-inherited budget deficit is garnering headlines, Trumka says “not enough attention is being paid to our massive ‘jobs deficit.’”
We need to create over 10 million new jobs just to get back to where we were when the recession began. This massive jobs deficit demands bold, urgent action to create new jobs and grow the middle class. And besides, the most effective way to reduce the budget deficit is to eliminate the jobs deficit.
The budget reduces tax incentives for firms that move jobs overseas along with reducing tax subsidies for oil and gas firms. It also imposes a “financial crisis responsibility fee” on large financial institutions.
However, says Trumka, the brokers, bankers and corporations that drove the economy into the ground “should pay their fair share of the bill to rebuild the economy that they destroyed.”
Wall Street should be asked to do more—for example, a minimal tax on financial speculation could go a long way toward funding the additional investments needed to eliminate our jobs deficit.
The proposed budget addresses eight years of Bush-era starvation for workers’ programs at the U.S. Department of Laobr and restores staffing for workers’ protection programs to their 2001 levels, with increased funding for health and safety protections; minimum wage and overtime protections. It also includes a new initiative to crack down on businesses that misclassify their employees as independent contractors in order to evade their responsibilities as employers,
 |
Become a Fan on Facebook |  |
Follow Us on Twitter |  |
Subscribe to YouTube |  |
Subscribe to Blog RSS | ||||
6 Comments
Sorry, the comment form is closed at this time.
trumka, do you know how many years it will take to get 10 million jobs. many, many years
Anyone familiar with the 2011 budget and recent regulations would have to be insane to hire employees or start a business. The budget includes 86.7 billion in tax increases plus 39.0 billion in “Climate revenues“.
With increased taxes and “skyrocketing” energy costs we see more layoffs and bankruptcies, not employment. The most to suffer will be the middle class.
americans need to get educated on the facts of what the obama administration is doing and what it has done in its first year in office !
obama should have put all his energy on jobs creation instead of throwing all the money back at the same people who created this mess and all the programs he nade which most have failed creating jobs for working americans !
the jobs bill at almost 4 trillion has a big price tag on it and waht will it really do for americas and the jobs it will create for working people , rember there were no jobs created in 2009 and we bring into america each month 125,000 foreign born workers with work permits to take americans jobs along with illegals . the numbers dont work and thats more taxes on top of taxes the we will have to pay and there is no way out of it , what they put off today will be 3 times more next year or this year !
we will have over 15 trillion in debit and thats waht out yearly economy is for america , what will we do , print more money to pay the bills or sell debit to other country ! 2 trillion dollars would give every tax payer in america $500,000 to spend and help the economy recover , now would that get the economy going , yes it would . we would not have to worry about a jobs bill , stop and think of it !
obama first day in office should have been jobs only to get the economy going , then tort reform , then enery pour money into starting nukes , then regulations on insurance companys and a and so on , we should of pushed like what they had done to recovery like the banks in france and germany the government bank to lend and not local banks and in less then 2 years they had the economy back , with out the high debit and with out this spending wild and giving the money back to the ones who made this bad economy . but thats not the way chicago politics work at the white house so they got real fat and while americans went down the tubes and workers have to pay for it in taxes and no jobs , we will be at $ 49,433 for each person to pay back the debit how our americans going to do that , you would need a min of 3 million jobs to do that , and with out thats with out the jobs bill figs in on that numbers .
what the news is saying the jobs bill is climate change money with the name jobs bill so there you go another scam trying to tell us there doing some thing for us , we our in troble with obams policys and programs and america has to wake up , for once it gone we can not get it back and they our looking at 2 years from now there will be a big burst no matter how much money they spend right now and thats a fact and there will be no way out of it , so get educated and vote this fall to vote out cancer and corruption in congress and the senate .
god bless america and our troops
American born americans most will not see new any jobs in the next year. we will stay the same with the economy with high un-employment . and they will still be taking in 125,000 foreign born workers with work permits taking american jobs , whats wrong with congress and the senate , nothing its americans for leaving them in office and not voting them out .. they work with lobbyist and special interst groups and this is why americans our feeling and going through tough times , we have been decieved by congress and the senate now its time all 541 congress and 1/3 of the senate will be up for election vote out cancer and corruption for americans .
The budget includes substantial cuts to programs that would help lift people out of poverty and give them money to spend. Welfare and unemployment insurance are ways to stimulate the economy, since the poor and unemployed spend their money on food, rent, utilities, and contribute to the tax base.
Investing in job creation and job training, and developing renewable energy and rebuilding our infrastructure are good, but there is not enough to go around as long as the Pentagon budget remains obscenely high. Subsidies for the multi-national corporations who want to build more dangerous nuclear power plants takes money from development of real clean energy sources.
The military budget needs to be cut and spending on weapons of mass destruction eliminated. Obama proposes to increase the DOD budget. More jobs, prosperity and security would be created investing in building schools and hospitals and raising the minimum wage.
As a wise president once said: “Every gun that is made, every warship launched, every rocket fired, signifies in the final sense a theft from those who hunger and are not fed, those who are cold and are not clothed.”
This critical socialist analysis is from the World Socialist Web Site (wsws.org).
Obama’s budget reveals the bankruptcy of American capitalism
Patrick Martin
3 February 2010
There is one overriding message in the budget proposal released by the Obama administration Monday: American capitalism is in decline and faces national bankruptcy.
The budget forecasts the doubling of the US national debt over the next few years, even on the assumption of a rapid recovery from the financial crisis and slump. It projects that high, long-term unemployment will become a permanent fixture of American life.
….
The conclusion being drawn from this analysis in US ruling circles is that if American imperialism is to maintain its position of world domination, domestic politics and social relations within the United States must be radically restructured. The resources required to sustain a global military posture and prevent undue dependence on foreign creditors must be extracted from the American working people, through the gutting and effective destruction of the programs which consume the bulk of the federal budget—Social Security, Medicare and Medicaid.
…
There is no alternative to this policy within the framework of the profit system. Working people can defend decent-paying jobs and social services like education and health care only if they reject the logic of capitalism and launch a political struggle for a socialist program. At the center of this struggle must be the question: who will pay for the crisis of American capitalism, working people or the capitalists?
…
Why, given the manifest incompetence and greed of the financial oligarchy, should working people accept its continued domination? Why should less than one percent of the US population own 40 percent of the wealth directly, and control all of it indirectly? It is not that American society can’t afford health care for all or a decent retirement for the elderly, but that society can no longer afford the death grip of the Wall Street parasites.
>>>> Read the full article here: <<<<
http://www.wsws.org/articles/2010/feb2010/pers-f03.shtml