Friday, December 14, 2012

Unemployment Costs Government More Than Interest On Its Debt

Robert Reich makes the case for government to focus on job creation instead of on our short term budget deficits.  Unemployment is not only painful for those without jobs, it is very expensive for government, and bad for the economy.  He is critical of the President for sometimes putting the focus on debt reduction, but I think that the President understands the difference between the short term problem of unemployment, and the need to address longer term budget issues.  He knows, however, that he must also be mindful of the longer term issue of debt reduction.  Our biggest budget buster is the rising cost of healthcare and the first step in addressing that problem is the ACA.  Implementation of ACA my set the stage for a plan more like Canada's single payer system.  Our hybrid system is broken.

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