Unemployment: How Long Can This Go On?

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The Senate's newest member, Scott Brown of Massachusetts, was one of 13 Republicans who voted this week in support of a jobs bill, which provides $35 billion for highways, mass transit and tax credits for employers who hire new workers. With 15 million Americans out of a job and unemployment still close to 10%, it might create or save as many as 1 million, hardly a dent in the long-term problem that worries economists most. The author was Leading Democrat Harry Reid, whose bid for re-election is in serious trouble. How did his latest effort go down with the folks back home in Nevada? What are the social and psychological impacts of unemployment? Could it lead to unrest?  Is it time for another New Deal, even if that means more deficit spending?




Warren Olney