Obama's business plan: 'Go back to school!'

Published Jul 15, 2009

Share

US president Barack Obama took a dose of reality to Michigan on Tuesday and pointed out that the thousands of jobs lost in the auto industry's downturn were not coming back.

It was, he said, time to prepare for new industries.

He went to Michigan, a state hit hard by job losses as Detroit's Big Three suffer under the world recession, where he planned to promote a $12-billion initiative to boost community colleges and increase the graduation rate.

"The hard truth is that some of the jobs lost in the auto industry and elsewhere won't be coming back," Obama said. "They are casualties of a changing economy that underscores the importance of generating new businesses and industries to replace those we've lost and of preparing our workers to fill the jobs they create."

Obama, a Democrat, is trying to restore economic growth to the US but his $787-billion economic stimulus plan is under fire from Republicans because it has failed to stop the unemployment rate from rising to 9.5 percent.

A new CBS News poll said Obama's job approval rating was a strong 57 percent, although that was down six points from last month.

The poll said his approval rating on handling the economy was now 48 percent and 44 percent disapproved. Last month, Americans approved of his handling of this issue by a margin of 22 points, CBS said.

Obama's 10-year programme to boost community colleges includes a new goal of graduating an additional five=million students over the next decade, double the current rate.

Education is the often-forgotten third pillar of Obama's economic plan and has received far less attention than the other two - health-care reform and renewable energy.

Obama's Council of Economic Advisers issued a report on the future of the US job market on Monday that said:

"Well-trained and skilled workers will be best positioned to secure high-wage jobs, thereby fueling American prosperity."

There are more than 1000 community colleges in the US with more than six-million students. Nearly half a million graduate each year. - Reuters

Related Topics: