Government’s role in building businesses and creating jobs
This week let’s talk about the government’s role in building businesses and creating jobs. Here are examples of what the government has done to build businesses and jobs in America. In 2008, the government went into a recession that caused businesses to suffer due to a slow recovery in the economy. The United States lost around 300,000 jobs in the manufacturing industry. Congress approved the Troubled Asset Relief Program at the end of 2008 to help build the economy up the following year. The T.A.R.P. allowed the Department of the Treasury to buy unproductive real-estate investments. They also invested about seven hundred billion dollars to become part owners in company stocks. We know that printing more money is not a great solution to stimulate the economy because it causes our value of the dollar to go down on the market. One year after the T.A.R.P. was introduced, eighty percent of American International Group owned by the government. By the end of the following year, they also owned sixty percent of General Motors and control of seven hundred banks. So since the government owned most of these companies, they could have had the right to manage and sell them if needed to. In this case, the government decided not to take part in any managing or selling the ownership stakes. This is how the former Administration tackled some of the businesses and job growth in America.
In the current Administration they want to make clear how important small businesses, workers, and entrepreneurs are to building the economy and creating more jobs. The government wants to propose a new federal regulation moratorium to repeal job-killing regulations. The head of federal agencies would be in charge of finding out and identify those regulations that are currently in place. This Administration also wants to look at existing trade deals to include tougher stances on ones for the future. Trade agreements can bring good-paying jobs in support of American manufacturing. The backbone of America is the economy supported by the hard working people of this country. Thank you for reading my post this week and have a great week.