How do you offset the loss of jobs from cutting government spending?
Many people in various countries around the world are advocating cutting government spending as a means of debt reduction. Yet in quite a few of these countries, it seems unemployment is high. A portion of government spending goes to paying wages to its workers. If we eliminate some government jobs, what effect will this have on these unemployment rates? Can economies recover if unemployment remains high?
Asked By: Pete S - 1/24/2011
Best Answer - Chosen by Asker
we have to spend more in private sector to off set.. But i don,t think we can spend enough money to keep system going
Answered By: chris tanzu - 1/24/2011
Additional Answers (2)
Technically, you should cut taxes with the money you save. That gives people more money to spend, creates more demand and therefore more jobs... More
Answered By: I Caliban - 1/24/2011
The less Govt spends the more the private markets will have to spend and then real growth and jobs get created. Yes there is a lag and thereis a spike, but if we continue as is there will be no private market in 10 years. Obama has already nationalized 25 percent of the US economy in 2 years, YIKES... More
Answered By: sci - 1/24/2011
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