Barack Obama’s Dangerous Embrace Of Economic Fatalism. Nothing can be done in the short term?

[Karmadillo]

http://thinkprogress.org/yglesias/2011/07/06/261379/barack-obamas-dangerous-embrace-of-economic-fatalism/

Barack Obama’s Dangerous Embrace Of Economic Fatalism
By Matthew Yglesias on Jul 6, 2011 at 10:45 am

Even as the Obama administration continues to defend the American Recovery and Reinvestment Act from its critics, the White House appears to have sincerely pivoted away from the idea that a higher level of aggregate demand would reduce unemployment and instead embraced the notion that there’s basically nothing that can be done in the short-term. You can see this in Obama’s Today Show interview where he appeared to suggest that unemployment is primarily attributable to technological change:

There are some structural issues with our economy where a lot of businesses have learned to be much more efficient with fewer workers. You see it when you go to a bank and you use an ATM, you don’t go to a bank teller. Or you see it when you go to the airport and you use a kiosk instead of checking at the gate. What we have to do now, and this is what the jobs council is all about, is identifying where the jobs for the future are going to be, how do we make sure that there’s a match between what people are getting trained for and the jobs that exist, how do we make sure that capital is flowing in those places with the greatest opportunity.

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[juajen]

1. OR, just stop letting all our manufacturing jobs go overseas. That would be a start in the right

direction. Why does this not happen. Money flowing into politicians hands, that's why.

[Dept of Beer]

2. Perhaps they're all in on it and don't give a shizzle.