Flaylo
Handsome Devil
Corporate America Is Sitting On The Solution To The Jobs Crisis: Report
Link to the report
http://www.peri.umass.edu/fileadmin/pdf/published_study/PERI_19Million.pdf
Repugs will still blame Obama and mythological job killing legislation without any proof and ignore that businesses hoarding cash are the real fault.
Corporate America is sitting right on top of the solution to the nation's employment crisis, according to a new report from a group of University of Massachusetts economists.
If America's largest banks and non-financial companies would just loosen their death-grip on a chunk of the $3.6 trillion in cash they're hoarding and move it into productive investments instead, the report estimates that about 19 million jobs would be created in the next three years, lowering the unemployment rate to under 5 percent.
"There is no reason that the U.S. needs to remain stuck in a long-term unemployment crisis," Robert Pollin, lead author of the report and co-director of the Political Economy Research Institute, said in a statement accompanying the report's release Tuesday.
"Getting the banks and corporations to move their hoards into productive investments and job creation requires carrots and sticks -- policies such as a new round of government spending stimulus as well as taxes on the banks' excess reserves -- that can both strengthen overall market demand and unlock credit markets for small businesses," Pollin said.
Link to the report
http://www.peri.umass.edu/fileadmin/pdf/published_study/PERI_19Million.pdf
Repugs will still blame Obama and mythological job killing legislation without any proof and ignore that businesses hoarding cash are the real fault.