A letter to editor in wall street journal Essay Example | Topics and Well Written Essays - 500 words

A letter to editor in wall street journal - Essay Example the problem of unemployment in the nation that attracted my attention, similarly as it might have done to the majority of sentient inhabitants of the US. The recent financial shock of 2008 was certainly quite destructive that led to multiple issues in the economic as well as in the political structure of our country. One such consequence, as the experts called attention to, was the very rising unemployment rate in the economy. According to the statistical data, unemployment rate has increased rapidly in the US since the early 2009 which currently accounts above 9% on an average. It is indeed one of the most serious drawbacks for a developed economy such as the US which require instantaneous concern of the government with the purpose of its revival. The declared economic plan by the President of the US also depicts similar concern, but in an extended demeanor taking into account both the economic and political aspects. The plan emphasizes on payroll tax cuts that would surely lessen the burden of employers and employees in the presently hostile business environment of the economy. It also includes extension in the investment grants for education and infrastructure sector. Attempts shall be made to boost the labor market through added concerns regarding programs for the jobless under the declared plan. On an aggregate, this planning shall cost $447 billion being enacted from 2012. Therefore, as a short-term recovery strategy, this plan shall certainly encourage the employers to hire more man power and thus make larger contribution to the overall GDP growth. Where economists in this context reveal the probable short-term benefits of the strategy, politicians have been noted to continue with their fair game of opposition with due regards to the components of the planning. The most noticeable questions augmented by the politicians in this context, whether a democrat or a republican, are related to the approval of the amount asked for the plan and its