That means that the federal government must pick up some of the slack.
At the very least it should subsidize the state and local governments so that they stop laying people off and stop raising taxes, thereby shrinking consumer spending and employment even further, while at the same time making this an ever less educated country as teachers are either laid off or short changed (wage-wise) in droves.
Does President Obama have the guts to show some leadership on these issues, even if it means having to stand up to the financial and corporate interests that he thinks have the ability to destroy him with billions spent on negative campaign ads? That remains to be seen. But he certainly won't be up to the task without enormous pressure being put on him by most all the people who worked so hard to elect him the first time around.
So, give up on Obama and you will be giving up on America.
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