President Barack Obama used his 20 minutes at UNLVÕs Student Union on Friday to tell Nevadans that he understands the pain caused by high unemployment but that he has a strategy to create more jobs.Although he has visited Nevada frequently ever since announcing his candidacy for president, this was his first trip to the state when it has led the nation in unemployment, with a 14 percent rate reached in May.
The nation has added private-sector jobs in each of the past six months, but Obama said: ÒThe unemployment rate is still unacceptably high, particularly in some states like Nevada. And a lot of you have felt that pain personally or youÕve got somebody in your family whoÕs felt the pain.
ÒMaybe you found yourself underwater on your mortgage and faced the terrible prospect of losing your home. Maybe youÕre out of work and worried about how youÕre going to provide for your family. Or maybe youÕre a student at UNLV and youÕre wondering if youÕre going to be able to find a job when you graduate, or if youÕre going to be able to pay off your student loans, or if youÕre going to be able to start your career off on the right foot.Ó
One path Obama said he is pursuing is to insist that Congress increase clean energy manufacturing tax credits by $5Êbillion, more than doubling the credits available last year. That alone would add 40,000 jobs, but he predicted it would also trigger $12 billion in private-sector investment and an additional 90,000 jobs. Essentially, a busi¶ness venture that agrees to put up 70 percent of the financing would get a 30 percent match from the government.
Nevada potentially could benefit from the increased tax credits as it attempts to position itself as a world leader in clean energy production from solar, wind and geothermal sources.
Obama also touted passage this year of legislation that will involve overseas advertising to lure more tourists to the United States. Promoting tourism, he said, will Òbring folks here to enjoy the incredible hospitality.Ó
As for efforts undertaken by his administration to increase employment, he said:
ÒWe fought to keep Nevada teachers and firefighters and police officers on the job, and to extend unemployment insurance and COBRA so folks have health insurance while theyÕre looking for work.Ó
HereÕs how some of those attending the speech reacted to Obama:
¥ Former state Sen. Joe Neal of North Las Vegas: ÒYou have to understand that people in (lower-income West Las Vegas) are survivors. WeÕve been through a lot. Of course, the issues that heÕs raised with small business and research and development money ... will certainly help people who have ideas. They can go to the bank with an idea and the government will put up 30 percent. WeÕve got a lot of people in the black community throughout the country, not only here in Las Vegas, who have great ideas that they would like to put forth, but they need to get access to the capital. With the government stepping up and saying, ÔOK you bring a good idea and get private industry to take a look at it, weÕll put up 30 percent of thatÕ ... That would help us out a great deal.Ó
¥ Nevada Secretary of State Ross Miller: ÒIt was a very impressive speech. Hopefully, the tax credit goes through in the Senate. We can certainly, as the president stated, use the jobs out here in Nevada.
ÒWith unemployment as high as it is we need to really create some incentives for businesses to be able to relocate, as weÕve tried to work on through whynevada.com and some of our economic development websites. WeÕve tried to point out that Nevada can and should be the hub for clean energy, which is what the tax credits are all about. If you provide those types of incentives, I believe the businesses will come.Ó
¥ Frank Mir, Las Vegas mixed-martial arts fighter and former heavyweight titleholder in the Mixed Martial Arts Championship: ÒI feel that all the things that should be done right now are being done. IÕm willing to believe it will take more than 18 months to fix everything. IÕm very happy about the tax credit for green energy. I couldnÕt believe itÕs actually an issue with anybody.Ó
Mir also supports the presidentÕs vow that a federal grant for electric vehicle manufacturers will enable the United States to go from 2 percent of the global market share in batteries to 40 percent within five years.
ÒIÕm still with the old phrase that we need to get off the foreign oil so going toward alternative sources of energy is a long-term goal for us that we need to eventually come to. Going from 2 percent of the market to 40Êpercent in five years blows my mind. ThatÕs a huge step in the right direction.Ó
But Mir said he is disappointed that there hasnÕt been more relief for individuals struggling to keep their homes, especially from banks that have been bailed out.
ÒThe banks are getting a break. Why isnÕt it passing down to the average citizen here?Ó
¥ Rep. Dina Titus, D-Nev.: ÒItÕs about jobs. ThatÕs what they wanted to hear, about the new solar jobs and stimulus jobs.Ó
As for boosting tourism, she said: ÒI like it when he says heÕs back in Vegas and he loves Vegas because he has a little fence-mending to do from some earlier comments. But he did mention the Tourism Promotion Act and thatÕs very important. I was pleased to support that because itÕs a public-private partnership that costs no taxpayer dollars, but advertises the U.S. abroad. No one will benefit more from that than Las Vegas.Ó
¥ UNLV Economics Department Chairman Stephen Miller: ÒIn terms of the economy there is one statement he made that was significant, which is in his view the economy is heading in the right direction. And I think heÕs right. ThereÕs a lot of uncertainty, though, because a lot of pundits are talking about the possibility of a double-dip (recession).
ÒProbably all the president could say is that he had sympathy for the residents of Nevada, given the large number of homeowners underwater and the highest unemployment rate in the country. We were in free fall for about three years, and looking at the numbers weÕre probably at the bottom right now.Ó
As for ObamaÕs emphasis on developing a clean energy industry, Miller said Ògovernment shouldnÕt be in the business of picking winners and losers but in this area, clean energy, thereÕs almost a consensus that we have to develop alternative energy at some point. We canÕt continue to rely on oil. There is some short-term benefit in terms of construction jobs but the real benefit will be long-run to the extent this industry really takes off.Ó
Miller acknowledged that UNLV stands to benefit from increased investment in clean energy research. ÒItÕs an example that shows how the private sector and higher education can mutually support each other to achieve economic growth. It also illustrates how the government can set rules to help a new industry develop.Ó
¥ UNLV assistant professor Kenneth Fernandez, who teaches political science: ÒIf you listen to ObamaÕs speech, he talked about how the government is trying to work with the private sector, that the private sector is the key to the economic growth in this country and how they (the Democrats) are cutting taxes or having tax credits.
ÒThatÕs a twist on the standard belief of how the Republicans are trying to depict Democrats. And I think itÕs a purposeful argument, particularly in Nevada, where the Tea Party has had a good amount of success. And their angst is often about too big of government. The speech addressed the fact that, no, weÕre not the enemy of the private sector, weÕre the friend of the private sector.Ósteve.kanigher@lasvegassun.com / 259-4075
Copyright 2010 Las Vegas Sun
