Reply #21: That's not quite right. [View All]

[mbperrin]

The first major declaration of macroeconomic policy goals for the U.S. government was contained in the Employment Act of 1946, 15 U.S.C § 1021:

"The Congress declares that it is the continuing policy and responsibility of the Federal Government to use all practical means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and Local governments, to coordinate and utilize all its plans, functions, and resources for the purpose of creating and maintaining, in a manner calculated to foster and promote free competitive enterprise and the general welfare, conditions under which there will be afforded useful employment opportunities, including self-employment, for those willing, able, and seeking to work and to promote maximum employment, production, and purchasing power."

http://www.drfurfero.com/books/231book/ch03g.html

"maximum employment, production, and purchasing power" for those "willing, able, and seeking to work"

It's not just a wishful thought, it's the law and has been for 58 years. Requires all players to play.