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December 3, 2009

Need jobs now – White House

Posted: 02:45 PM ET

By Tami Luhby, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) - With rising unemployment stymying the president's economic revival plans, the Obama administration is huddling with business leaders, academics and other experts Thursday to find a way to jumpstart hiring.

Some 130 people will gather for the afternoon jobs summit at the White House on the eve of the government's November unemployment report. The nation is expected to have lost another 114,000 jobs, with unemployment remaining at 10.2%, the highest in 26 years, according to an economists' survey.

The employment picture is certainly grim. Nearly 16 million Americans are out of work, one-third of whom have been unemployed for more than six months. There are now six workers competing for every job vacancy.

President Obama and some lawmakers are searching for a way to stem this unrelenting loss of jobs, which is casting doubt on effectiveness of many of his economic programs, from his $787 billion stimulus plan to his $75 billion foreclosure prevention initiative.

"We are going to be bringing together people from all across the country ... to explore how we can jumpstart the hiring that typically lags behind economic growth, but we don't want to wait," Obama said last week.

Invited executives include Google CEO Eric Schmidt, Disney chief Bob Iger, Boeing head James McNerney and AT&T's Randall Stephenson. Also expected are United Steel Workers president Leo Gerard, San Antonio Mayor Julian Castro, former Fed vice chairman Alan Blinder and Paul Krugman, the Nobel Prize-winning economist and New York Times columnist.

(Read moreā€¦)

Filed under: Economy • Larry King Live • Politics • President Obama


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A. Smith, Oregon   December 3rd, 2009 4:20 pm ET

No jobs equals zero taxes to pay Hundreds of Billions of taxpayer dollars to the Pentagon and multi-national Defense Contractors.

Is America going to borrow more money from China to pay for these foreign wars? Its clear the Federal Govt. is not going to afford the two ongoing wars in Iraq and Afghanistan.

Meanwhile, Several States are literally teetering on the very brink of bankruptcy, and are cutting back on essential services to their residents.

Real Homeland Security begins at Home. Our roads, bridges, canals, levees, dams, harbors, public schools and electrical grid are all badly dilapidated and in great need of repair.

Draining 100 Billion Taxpayer dollars per year to prop up a corrupt foreign leader in Afghanistan and flood Russia with cheap Heroin seems a very poor way to have any real and meaningful Homeland Security.


Dodie   December 4th, 2009 6:01 am ET

@ A. Smith, Oregon

Such Clarity of thought! Excellent statements and conclusions. You are right on the $ money! I stand right beside you on these issues! Yes, Real Homeland Security begins right at Home!!! Not in another part of the world! I am so tired of "fear" based threats manipulating us!

While the blood spills from our men and women in Afghanistan. Our resources draining, families out in the cold, as they lost their jobs and homes......what will it take. How much longer can we withstand this? This is how you make a power in retreat!


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