1. Use Wall Street bailout funds left in the TARP program to bail out Main Street (using money for small businesses, public services).

2. Enact a one-year payroll tax holiday (creating a moratorium on Social Security, Medicare, and FICA taxes will encourage businesses to hire new workers).

3. Expand the Small Business Association's lending programs (45 percent of all job losses have been at small businesses).

4. Offer businesses a tax credit for every new job created over the next 12 months, or have the government pay a portion of the salary of new workers hired over the same period.

From my perspective, I agree Suggestion #1. I think that the government should even require the refund of some portion of the bailout money from “Big Banks” and the return of those banks’ bonuses to their Executives, which were overpaid unjustifiably or through loopholes. These executives failed in their jobs and don’t deserve to be rewarded for their failures; they should not be even called as “Talents” when they actually drove their companies into bankruptcies. What kind of strange definition of “Talents” is this?

Suggestion #2 sounds good, but with side effects. The government needs money to support states or public projects or in case of further need of another recovery package in future, in addition to current huge budget deficits. If the government enacts payroll tax holiday, where will the government make up for its huge (I guess) income loss? As Dr. Krugman suggested, borrow money from other countries at low interest rates?

Suggestions #3 and #4 sound good. But the focal point at this point seems to be “how to stimulate consumer spending / consumption”, which is predicted to be continuously sluggish even in 2010. Without consumer spending starting to resume at their normal rate, helping out with supply, business side alone may have limited effect on job creation.

(Reference: http://www.huffingtonpost.com/arianna-huffington/will-the-unemployment-dis_b_368329.html).