Bloomberg on Financial Collapse, Job Growth

CBS This Morning
September 13, 2012

http://www.cbsnews.com/video/watch/?id=7421442n&tag=mncol;lst;6/

BLOOMBERG: I think saying things like let’s invest in infrastructure. We need infrastructure desperately. But, infrastructure is not a jobs creation program in the short term. It gives us the tools to have an economy down the road, but most people who are unemployed are just not going out and working in construction. Construction is something you spend your life doing, it’s a tough thing, you do it outside, you have to have a lot of experience, it’s dangerous. And by throwing more money at, let’s say, go build another dam, isn’t going to do it. Today you can build a Hoover Dam with 10% of the people you did back then. For example, manufacturing in America is growing leaps and bounds. We’re doing great, except that we’re not creating jobs. Why? Because we’re sending some industries overseas thanks to our immigration policy, because we are not giving the school systems the support they need. Think about this, everybody agrees education is the most important thing; down the road, really technological global world. Our federal government is defunding education as our state governments around the country at exactly the time they should be putting more into it.

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