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Dismal Employment Numbers Show Need For ActionThe Wichita Eagle
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January 11, 2009
The 2008 employment numbers reinforced Barack Obama's call last week for swift, bold action to stimulate the economy. The United States lost 2.6 million jobs last year, the largest drop since 1945. More than 11 million Americans are now unemployed, and the unemployment rate is 7.2 percent, the highest level in 16 years.
But the urgency for action doesn't mean Congress should rubber-stamp a stimulus package. Lawmakers need to make sure that the spending is smart and will boost the economy. For example, some lawmakers and economists argue that Obama's plan to provide a $3,000 tax credit to businesses for every job created, and possibly for jobs spared, would be difficult to administer and could lead to abuse.
http://www.kansas.com/290/story/658679.html
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