[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/11/07/art.cope.ap.jpg caption="The Labor Department announced this morning 240,000 jobs were lost in the month of October."]
FROM CNN's Jack Cafferty:
This week began with a message about hope and ended, at least on the economic front, on a feeling of concern.
The Labor Department announced this morning 240,000 jobs were lost in the month of October, bringing us to a grand total of 1.2 million jobs so far this year. More than 650,000 gone in the last three months alone.
Scary stuff... And things could get worse into the first half of 2009. The auto industry is teetering on the brink of disaster. Collectively, they are among the biggest employers in the country. Recent retail sales reports are likely to accelerate the closing of stores. That means more jobs gone. There is nothing on the horizon to make us think things are going to get any better anytime soon. President-elect Barack Obama has promised to create jobs, but he doesn't take over the White House until January. Things could get a whole lot worse between now and then.
Here’s my question to you: How can the new administration begin to slow the loss of jobs in the U.S.?
Interested to know which ones made it on air?
Greg from Cabot, Arkansas writes:
To slow the loss of jobs in the U.S., Congress needs to impose severe tax penalties on companies that ship jobs off-shore, eliminate tax breaks for companies that already outsource jobs and offer big tax cuts to companies that bring jobs back.
R.M. from Gainesville, Florida writes:
President Obama needs to put a cap on the interest rates that credit card companies charge customers. Only then will people be able to start spending money again, rather than simply slaving to pay off debt. Greater purchasing power along with middle-class tax cuts will help get the majority of us spending again and that creates jobs.
Kim from Dodge City, Kansas writes:
How about immediate revamping our trade policies so that American-made products and jobs are protected? I'm talking about an increase in tariffs large enough to send a message that the State Department is no longer going to be making trade policy. The lack of any common sense in our trade policies has led us to this point. And for heaven's sake, get NAFTA repealed in an emergency session.
John from Fort Collins, Colorado writes:
Barack Obama must take a page from FDR by quickly creating new jobs. In today’s world, that would be in the areas of alternative energy and transportation, and the rebuilding of inner cities and other areas of decayed infrastructure. Each new job created would result in additional consumer spending that would help save existing jobs.
Jim from Vancouver, Washington writes:
My father worked in the CCC camps. What an opportunity for a program now modeled after that concept. Make sure money to bailout U.S. auto makers goes toward plug-in cars and trucks. (Things that are utilitarian, not just a lot of gas guzzling art). Bring back regulations to keep the hogs from raiding our financial gardens. You know, the basic skills for balancing the budget like they teach in the 5th and 6th grade should come into play here also.