Sachs Report Survey Results
But to me, the saddest of all considerations with regard to last week’s survey were found in the unemployment question (#5). Only 19 percent of respondents believe we will see unemployment below 5 percent in 24 months. That is two years for those of you who are as good at math as I am. Thirty-nine percent believe it will happen in less than 36 months thus leaving 45 percent who believe we will not see this happen in the foreseeable future.
How will we double exports under the current unemployment condition? Near-term employment will be coming from the only growth sector we currently have here in the U.S., and that is the public sector. Are we going to export police, military, teachers and bureaucrats?
As for the private sector, with apologies to all my attorney friends, we have more great legal minds working for both the public and private sector per capita than any other nation. While I would suggest a great export could be many of these legal thinkers, the rest of the world is at least smart enough to figure out that they are not so inclined as to accept a gift as great as this.