So, we still do not have an agreement to extend the Bush Tax Cuts to ALL Americans. The wheeling dealing still seems to be going on behind closed doors now in Washington. Extending the unemployment for one more year is the wish of the president. My question is just how long will we extend these benefits seeing last night on 60 Minutes we heard Bernanke showed little encouragement for job return for at least 5 years!
I am a small business owner who hires tradesman and my phone still is not ringing with job inquires. Will this extension only prolong the evident that people who made a certain wage way back two years ago when their unemployment checks started, will have to take a job for maybe a lesser wage. Jobs may come back, but good paying jobs for those without a trade or a college degree are lost and gone to China and India. I do not know if most of the new arrivals, legal or not, are college educated but I do know they need jobs.
True Story: Thirty years ago the city of my birth decided to build an industrial park for manufacturing to lure other large companies to come and create jobs. We tried, at the time, to relocate to a larger facility at the park but were told that these parcels were for manufacturing only and no service company need apply. Park was built, companies came, huge buildings thousands of square feet. Today, thirty years later, park is only 25% full most of the manufacturing gone and some buildings now housing sub shops, warehouses, business like mine, and car dealerships. So again I state that 10% unemployment could become the norm or just maybe will go higher.