In his blog post titled “The Truth About Jobs That No One Wants To Tell You” former Secretary of Labor and current U.C. Berkeley professor Robert Reich argues that government’s greatest priority now should be to spend money creating jobs as it’s the only entity now that can, and that job creation is the essential mechanism for economic recovery, in the short and long terms. He said in candid part:
“…my father told me that I and my kids and my grand-kids would be paying down the debt created by Franklin D. Roosevelt during the Depression and World War II. I didn’t even know what a debt was, but it kept me up at night….My father was right about a lot of things, but he was wrong about this. America paid down FDR’s debt in the 1950s, when Americans went back to work, when the economy was growing again, and when our incomes grew, too. We paid taxes, and in a few years that FDR debt had shrunk to almost nothing…People who now obsess about government debt have it backwards….if government doesn’t spend more right now and get Americans back to work, we could be out of work for years. And the debt will be with us even longer.”
Coming just after the dismal September jobs numbers, amidst now common enough sentiment of a “jobless recovery” and in a season of a polarizing if inarticulate debt-aversity, his recommendation is an unapologetic affront to delicate ears.