Expanding the economy with private business investments

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July 5, 2012

Expanding the economy with private business investments

The Cullman Times The Cullman Times Thu Jul 05, 2012, 09:52 AM CDT

CULLMAN — A new survey of the nation’s economists by the Associated Press indicates the United States may experience unemployment above 6 percent for at least four more years.

The unwelcome news is based on a number of factors that include Europe’s growing financial worries, another slowdown in hiring by the nation’s manufacturers, and the largest concern — scheduled tax increases coupled with spending cuts when the new year arrives.

Some areas of the nation have witnessed steady declines in unemployment in recent months, but concerns still lingers that some people have given up on job searches and that government’s need for money will continue to push fees and taxes on small businesses.

State and federal governments are known for avoiding the reality of their budgets because of political pressure to maintain pet programs. While tax increases are certainly worrisome, governments need to give a closer look to tax formulas and budget policies that may be antiquated. And if anything, every effort should be made to provide businesses with incentives to invest and expand for the sake of the American public.

The country’s ability to pull out of the economic lag is always based on private business initiatives, not elaborate government programs that only require more tax dollars to operate.

Alabama has been making efforts to provide a more lucrative setting for private businesses and industries to invest and expand. That’s where the state’s focus should remain. And it’s also where Congress and the president should direct attention.

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