Everyone knows the president is an outstanding speaker. He has the ability to convey his message with an emphatic call to action. He did just that in this evening’s speech to a joint session of Congress. You just wanted to jump out of your seat and make his proposals happen.
However, his proposals did not address the problem of an economy stuck in neutral or more likely in a downward slide. His ideas on improving infrastructure from schools to bridges will certainly put people back to work. The problem is there was nothing in his proposals that would reinvigorate the private sector. Specifically, there was no discussion of methods to stimulate manufacturing activity.
Bill Gross, CEO of PIMCO, pointed out on “Piers Morgan Tonight” that manufacturing accounted for 45% of America’s GDP after WWII but today accounts for 9% of GDP. There is the crux of the problem. Mr. Gross pointed out that globalization and cheap labor elsewhere are barriers to re-employing the millions of people who have lost their job in the United States. Mr. Obama’s solutions are short term in nature and do nothing to address this issue.
So while Republicans and Democrats might come together to implement some of the president’s ideas, they will not have addressed the real problems facing this nation.
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