When all you read is gloom, turn here for a much different perspective.

Monday, December 8, 2008

And what about jobs?

"President-elect Barack Obama is focusing his economic recovery strategy on making the biggest investment in the nation’s infrastructure since Eisenhower's plan for the interstate highway system.

Speaking yesterday at a Chicago news conference and on NBC’s “Meet the Press,” Obama said state governors have many such projects that are “shovel ready,” meaning they could be undertaken swiftly and have an immediate impact on jobs." - Bloomberg.

For those of you not familiar with the history leading up to FDR taking office: From 1929-1933, unemployment in the U.S. increased dramatically from 4% to 25%. In addition, manufacturing output was reduced by approximately a third from its historical peak. Prices fell drastically causing a deflation of currency values, which made the repayments of any debts much harder. The mining, lumber, and agriculture industries were hit especially hard by the drop in values. The outgoing Hoover administration claimed, "There is knowing more to be done. We have done all that we can do."

But in the first 120 days of 1933, the FDR administration and Congress past all 34 initiatives proposed by the new leaders. Have a look at the results:

With the statements of Obama yesterday and throughout the campaign, the next 8 years look extremely bright.

Now that's good news!

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