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Bill Foster: Businessman, Scientist, Independent Solutions

Creating Jobs

Recent history shows that America knows how to create jobs – if the economy is competently managed.

  • During the 8 years from March 1993 to March 2001, over 22 million jobs were created – the best 8-year period of continuous job creation in our nation’s history.
  • In contrast, during the next 8 years from March 2001 through March 2009, less than zero jobs were created - the worst 8-year record for job loss in our nation’s history.

Our recovery is beginning by rebalancing our economy and returning to the policies that resulted in the strong economic growth of the 1990’s.

Our Economy Has Been Mismanaged and Growing out of Balance for Years.

  • We have favored Imports and Consumption over Exports and Manufacturing.
  • We have favored the Service Economy and Finance over Manufacturing and Agriculture.
  • We have favored Consumption & Debt over Savings and Investment.
  • We failed to make long-term investments to make our economy more energy-efficient.
  • Finally, as a nation we were living off of consumer debt and the “fake income” from rapidly appreciating housing prices and the real estate bubble.

Fixing these flawed policies, and the damage they caused, is in progress but will take time. It took a decade of bad leadership and misplaced priorities to get into this mess, and it will take years to recover.

NEXT:  Reviving American Manufacturing