The United States Department of Labor released their "Unemployment Situation Summary" today. Here are a few key disturbing points:
--total nonfarm payroll employment declined by 131,000 in July
--unemployment rate was unchanged at 9.5% (14.6 million persons remain unemployed in the US)
--there were 1.2 million "discouraged workers" in July, that's up almost 400,000 from the year before. Discouraged workers are those that have stopped looking for a job because they do not believe there are any jobs available for them.
I am sure those discouraged workers along with the rest of the 14.6 million people unemployed in the United States are at least comforted by the fact that they can one day view the pictures of exotic ants that the Federal Government chipped in $1 Million 'Stimulus' dollars to get. Instead of the "Change" Obama promised, they got discouragement. America used to be the place for the discouraged to find hope.
The report also stated that the private sector grew by 71,000 jobs--but there is no reason for celebration. According to the US Chamber of Commerce in their Open Letter to the President, we need 20 million jobs in the next 10 years to re-employ the unemployed and to keep pace with a growing population, in other words, to sustain our economy. That's approximately 166,000 jobs per month--we had less than half of that last month.
Again, the primary source of job creation in this country is small business. They were responsible for ending the recessions in both the early 80s and early 90s. For small businesses to start and flourish, we need legislators to adopt pro-growth tax policies. First and foremost, the tax cuts of 2001 and 2003 MUST NOT EXPIRE for anyone. Also, small businesses need credit but banks are hesitant to lend due to the new financial regulations pushed through Congress—small business are literally starving for capital.
The solution to this is in my FIVE POINT PLAN to create jobs. Five important steps to restoring the American Dream; five steps to encourage the discouraged. Carolyn McCarthy has not taken one step towards job creation in the U.S.—what our state and our Country need the most--so it's time for her to go. As a small business owner and a certified financial planner, I have what it takes to get the job done.
As Obama and other Democrats around the Country tout their accomplishments (a.k.a passing unwanted legislation) now and leading up to Election Day, don't be fooled. Americans still need jobs--and they either can't or won't take the steps necessary to create them. I can and I will.