To the best of my ability I write about my experience of the Universe Past, Present and Future
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Thursday, August 4, 2011
3% minimum GDP Growth per year needed not to bleed more jobs
Economists have always said that a country needs to have a 3% growth rate every year in order to just keep the jobs it has. Anything less than that just bleeds more jobs away. With growth rates of 1.4% and .4% in the last 2 quarters it is inevitable that more jobs are lost in the U.S. until we get up to 3% and are at the very least able to maintain the jobs we have. With 45 million people in the U.S. on Food Stamps which is a record it is looking more likely every day that we are entering a double dip recession. Most of the Ammo the government and the Fed has used to prevent something like this have already been used to stabilize our country. So, probably prayer would be the best thing to use now worldwide. Even though the debt Ceiling issue has been temporarily dealt with, it will be back to haunt us all the way through Thanksgiving and Christmas and into the next Presidential elections. So hopefully there will be some way to get back to 3% growth. This is really getting hard to watch worldwide.
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