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Job creation a big deal inside and outside the Beltway

November 29, 2009 - Mike Maneval

As unemployment rates tower, job creation is first and foremost on the mind, not only among the political class in Washington but of average Americans elsewhere.  

A pair of articles at the American Prospect's Web site by Terence Samuel and Paul Starr make the case that job creation needs to be the top priority for Democrats if they wish to keep their congressional majorities, and outlines some ideas how job creation can be achieved.

Starr reports half the stimulus funding is being swallowed by cuts in states' 2009 and 2010 budgets, though also noting that even proponents of a second stimulus are conceding that approach is unlikely. Starr instead points to a number of smaller measures, including mortgage foreclosure relief and policies encouraging employers to spread reduced work-hours out among employees rather than eliminating staff positions.

An editorial last week in the Christian Science Monitor adds two other proposals to the list: A short-term cut to payroll taxes and a tax credit for employers for additional hiring.

The Times of Trenton reports that business and community leaders in Princeton, N.J., met at a roundtable to discuss how job creation can be motivated. One recurring theme of the meeting was better communication, to inform business owners and employers of grants and other assistance programs already available and underutilized.

Whether the financial security of households and, thus, consumer spending is shored up through mortgage relief or by delivering payroll tax relief, or businesses tap in to previously-unused resources to improve their economic outlook, job creation will likely be the top domestic priority of the country through the next year.

 

 
 

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