“It’s very clear that private-sector jobs have been doing just fine; it’s the public-sector jobs where we’ve lost huge numbers, and that’s what this legislation is all about,” Reid said on the Senate floor.
Pardon me, but does the Senate Majority leader get out of Washington, DC much? The current unemployment rate is 9.1%, and most of these people are out of work private sector workers looking for new jobs. This doesn’t count the large number of Americans who are working part time and would rather work full time, or the large number of Americans who have given up looking for work. The economy may be creating a few more private sector jobs than are lost every day, but private sector unemployment is still a huge problem. The only lasting solution to private sector unemployment is private sector job creation.
How bad is the private sector problem with unemployment and a lack of job creation? It’s so big that it’s causing tax revenues to cities and states to be depressed. Which is causing the only problem Reid can see, which is the loss of public sector jobs. If the private sector job creation problem were solved, it would provide a huge infusion of tax revenues to state and local governments, and would fix the problem Reid is complaining about.