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Wednesday, February 18, 2015

Boomer: Are You Part Of The Spend and Borrow Generation?

Thomas Friedman points out that as boomers coming from a generation of "Spend & Borrow" we are still leveraging from our parents generation of "Save and Invest". With the back drop of Zero job creation in August Meet The Press discusses the current jobless recovery. What the President and Congress might do during this new congressional session? The problem is politics will certainly get in the way. Its pretty simple: One Political party sees government as a job facilitator. The other Political party sees government as a inhibitor of job growth. If you are unemployed it is very difficult not to have government affect you through its policies or programs. Just go down a quick checklist:
  • Unemployment payroll benefits
  • Food stamps including supplemental nutritional  food assistance
  • Cobra health insurance and HIPPA
  • Education: Federal Pell grants
With an average unemployment for a worker over 45 yeasr old lasting approximately 55 weeks and a rate of unemployment still at over 7% (varies both by exact age and sex) what role do you think the Federal Government should have in helping us get out of the worst economic slump and job creation since the depression? Nothing , something or the Full Monty? (Editor's Note)

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