More credit is not the answer to America’s economic problem. Consuming beyond our means is what created our dilemma.
Thirty years ago, I worked part-time in a foundry in a non-union Columbiana County for $8.50 hour plus production bonus. Despite three decades of inflation, people are still working at all sorts of jobs for that kind of money, and less.
You don’t have to have a Ph.D. in economics to know something is terribly wrong. We must return to a producing economy. The factories and outsourced jobs that have gone overseas must be brought back to the United States.
We continue hearing about the “new” economy — renewable energy and the whole bit. Sounds good. However, unless we start generating millions of jobs that pay $18-$20 an hour with benefits, all that political verbiage amounts to spitting in the wind.
And, serfdom for the rest of us.