Photo by Edward F. Palm)

About Me

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Forest, Virginia, United States
A long time ago, my sophomore English teacher, Father William Campbell, saw something in my writing and predicted that I would someday become a newspaper columnist. He suggested the perfect title for my column--"Leaves of the Palm." Now that I have a little extra time on my hands I've decided to put Father Campbell's prediction to the test. I'm going to start using this blog site not just to reprint opinion pieces I've published elsewhere but to try to get more of my ideas and opinions out there. Feedback is welcome. To find out more about me, please check out my Web site: www.EdwardFPalm.com (Click on any of the photos below for an enlarged view.)

Sunday, September 18, 2011

Deficit Be Damned--for Now at Least!

Today's "This Week, with Christiane Amanpour" featured an interview with Eric Schmidt, the CEO of Google, one of the few large American companies still hiring.  We keep hearing that businesses are sitting on large surpluses because they are afraid to hire.  The right wing, of course, attributed that fear to strangling government regulation and the socialistic designs of the Obama administration.  Schmidt doesn't see it that way.  The problem is simply a matter of supply and demand. People are not buying.  Hence, demand is down.
       Businesses are not going to hire people to meet a non-existent demand for more goods and services.  Schmidt recommends that the government put people back to work on infrastructure programs.  That would stimulate the demand that businesses need to see before they will hire more people.
      It makes sense to me.  I don't see how the Republican/Tea Party solution of "getting government off the backs of businesses" could get our economy growing again.  That alone will not create the additional demand for goods and services that would require businesses to hire more people.
      The irony is that Schmidt is not the first business mogul I've heard advancing this solution.  It would seem that conservative ideologues are quick to speak for the business community but not to listen to it. --EFP

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