Another Sputnik Moment for America
Energy Secretary Steven Chu has compared China’s recent surge with the Russian satellite of 1957, saying this should be a wakeup call for American innovation. Sputnik inspired America to compete with Russia by entering the space race.
Fifty-odd years later, China is light years ahead of the U.S. in computer technology, renewable energy development and mass transit. China not only has high-speed rail, which the U.S. lacks; they also have the world’s first maglev (magnetic levitation) transportation system.
Maybe someday the United States will rub its eyes, look around dazedly and notice that other countries have joined the 21st century and we haven’t. Will the land of collapsing bridges and dumbed-down schools ever compete again?
Hmmm... things don’t look hopeful, do they.
And now for this week’s cover story from DUUUHHH Magazine: Cut-off of jobless aid would lower economic growth.
Ya think? It’s too bad such simple two-plus-two logic needs to be spelled out for millions of people. (See “dumbed-down schools” above.)
If Congress lets unemployment benefits expire, economic growth could fall by one percentage point; there could be up to a million additional job losses. This is because (yes, you already know this) jobless/low-income people spend every cent they have, which stimulates the economy and creates jobs.
But try telling that to Republican politicians and their simple-minded followers.